Phoenix Sees Boom in Housing Market
More good news for the country’s real estate market, including Phoenix in particular. As we saw the trend last year begin, across the country we are continuing to witness a turn in our economy with the housing market leading this charge. Inventory of available homes in Phoenix has dropped to half the normal level in December, according to a recent article in Bloomberg. This shift has led to a shocking rebound in home valuation, illustrating the start of an uphill climb in the real estate market.
We at Encanterra saw this trend proven last year with a spectacular year of growth making it our best-selling year in history. And it doesn’t end there, according to market analysts, we can expect to see a continued increase this year of 6% spurred by this higher demand, lower distressed sales and less inventory. This time in the market is ideal for homebuyers. Purchasing a home early this year before prices continue to spike will show appreciation in your home immediately after purchase.
In addition, mortgage rates are still holding at one of the lowest rates in history, currently 3.44% for a 30 year fixed mortgage. This makes for a supreme environment for not only homebuyers but also for members, allowing them to take full advantage of living The Good Life and having a richer retirement life.
Driven by this high market demand, prospective homebuyers have the opportunity to purchase a new designer home in some of our more popular plans, which will be complete in time to accommodate an early 2013 move in — just in time to leave the cold winter climates behind for the beautiful Arizona sunshine!