We have certain expectations from the Phoenix real estate market in 2016 here in the Valley. While no one can predict what the market will do exactly in 2016, there are a few trends we'll watch together.
We know many homeowners have gained equity in their home if they bought from 2010 to 2016. A lot of these people want to sell and trade up to a bigger or nicer home. We're going to watch their decisions as the new year peaks. That means that there should be more homes available for buyers to choose from. This is great because low rates attracted buyers.
About one-third of millennials still live at home, because they are trapped by student loan debt or limited job prospects. Meanwhile, two-thirds are out there looking for a property. It's good for them to have those options available.
Because interest rates are low and because homeowners have equity, we're expecting a lot of movement in 2016. Historically speaking, an election year is a good year for real estate.
If you have any questions, give us a call or send us an email. We look forward to hearing from you!
We know many homeowners have gained equity in their home if they bought from 2010 to 2016. A lot of these people want to sell and trade up to a bigger or nicer home. We're going to watch their decisions as the new year peaks. That means that there should be more homes available for buyers to choose from. This is great because low rates attracted buyers.
Because interest rates are low and because homeowners have equity, we're expecting a lot of movement in 2016. Historically speaking, an election year is a good year for real estate.
If you have any questions, give us a call or send us an email. We look forward to hearing from you!
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