Sitting On The Fence? Now May Be Time to Buy Home!

By
Real Estate Agent with HomeSmart Real Estate BR632450000

Have you been sitting on the fence, trying to decide and "time the market" on the best time to buy a home? Well, those that had wondered and acted getting their head out of the cloud and got "off their seat on the fence" have seen their Phoenix area homes double in price during the past 5 years. Home ownership is the American dream and a chance to build equity and see your home appreciate. May be time to get off the fence and give me a call or text at 480-242-6500 for Homes For Sale in Phoenix Metro. (Fence photo- MabeAmber from Pixabay)

Metro Phoenix’s median home price should hit another record $470,000 in April and will likely increase again to $475,000 by mid May (once final numbers come in) per the Arizona Republic on May 2, 2022.

Home prices have about DOUBLED since 5 years ago in the Phoenix Arizona metro including Scottsdale, per Catherine Reagor in the Arizona Republic on February 27, 2022

Home Appreciation

Those that have bought homes in the past 5 years have seen their homes double in price. (Photo: Home Equity and Selling Price increases from Pixabay)

 

Median House Prices Last 3 Years in Phoenix Arizona Metro

$475,000 May 2022 (forecast from MLS contracts in system)

$470,000 April 2022 (Expected pending final numbers)

$460,000 March 2022 

$450,000 February 2022

$427,000 December 2021

$333,000 December 2020

$290,000 December 2019

 

Current Homes For Sale (Detached Single Family) For Sale in Phoenix Metro

See Homes For Sale in Phoenix Metro including Scottsdale (single family detached) always up to date on FULL PAGE view and create your own MLS Search Portal

Moving to Sunny Arizona

"The Valley is drawing many new residents from higher priced areas who can pay the rapidly rising prices....Many of the people moving to the Valley are coming from San Francisco, Los Angeles, Chicago and New York where home prices are much higher." Currently we have the demand for homes in the Phoenix metro but the supply of individuals willing to sell their homes is low. Until the supply equals the demand home prices are expected to rise as long as people can afford to buy the homes. 

Are you ready to move...think about the sunny Phoenix metro in Arizona? Yes prices are on the rise but rising mortgage rates are still closer to historic lows at 5.1% than highs. Both home prices and mortgage rates are expected to rise further in 2022. 

Living in the Phoenix Metro Area including Scottsdale                 

Jeff Masich discusses living and buying a home in Phoenix metro area and Scottsdale

Meet Jeff Masich REALTOR® Phoenix Metro Area including Scottsdale

Meet Jeffrey Masich, REALTOR® and call 480-242-6500 to get started

To learn more about Scottsdale living or anywhere in the Phoenix metro area and to see homes for sale Scottsdale Homes For Sale or Arizona Homes For Sale.

Here is a FREE MLS Search and your very own MLS Search Portal for homes for sale in Arizona. I, Jeff Masich would be pleased to help you find Arizona Homes For Sale and the right home at the right price!

Free MLS Search Arizona

               Press FREE MLS Search to search for homes for sale in Arizona

Posted by

Jeff Masich

Broker/REALTOR®

Scottsdale including Phoenix, Tucson and Prescott metros and throughout Arizona


Buy/Sell with Arizona Homes and Land Group. Ask me, Group Leader about Metro Homes or Ranches and Large Acreage properties throughout the state.

My BlogAbout Me


Web: Arizona Homes and Land

 Jeff Masich Arizona Homes and Land Group HomeSmart

 

 

 

 

480-242-6500
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Comments (10)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

 

Thank you for sharing the information.

Buyers and sellers in your area will benefit from your expertise. Wishing you continued success. Have a wonderful day and sell a house.  bill

May 03, 2022 12:47 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Thanks Bill Salvatore - East Valley as other buyers that did not hesitate to buy during the past few years have realized great appreciation in their family homes, others are still on the fence as house prices rise. Mortgage rates will rise again in 2022, now is time to lock in a rate and get off the fence.

May 03, 2022 12:51 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI I had to respond to this because of your featured picture. Those pants reminded me of the red, white, and blue elephant bell bottom jeans I wore in the 60's. Now that being said I actually did read your post and I think you did a GREAT job of presenting your case.

May 03, 2022 12:55 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Great post and market report Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI you have wonderful information packed in here 

May 03, 2022 12:59 PM
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

In my life I have been learning sitting on the fence should not be the preferred option when making a decision, especially in a rapidly changing landscape Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI  

May 03, 2022 01:14 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI Buyers sitting on the fence have already sat on it to long.  The interest rates are much higher now and continue to go higher.

May 03, 2022 04:15 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff we are on the same page, I remember three down turns, 1996, 2007 and this one coming up, buyers need to wake up everyone who did not buy lost out everyone who bought made money... I always tell the story of my father, he bought his house when it was 17 per cent interest rate for $40k and in the bottom of the market sold it for $120k and lived happy for decades... so this is a story for fence sitters...just sayin

May 03, 2022 11:17 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Jeff  and thank you for the great information to share with us here in the Rain.  Make it a great day!

 

May 04, 2022 10:37 AM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Hey Bob "RealMan" Timm I guess it is possible that person on the fence may have found your pair of striped pants at the thrift store. Jeff 😎

May 04, 2022 03:24 PM
Bob "RealMan" Timm

I wish I still had them Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI as I would still fit into them and my daughter would love them.

May 04, 2022 03:47 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Hi Endre Barath, Jr. the fence sitters sometimes tend to over-analyze and do miss out on opportunities. Not only has RE been a good long term investment, one gets to live there and lock in their monthly payment in a period of rising RE and also rising interest rates AND rising rental prices. Note, another FED interest hike today, mortgage rates will increase again soon. Time to lock in a mortgage rate.

May 04, 2022 03:27 PM