The Housing Market Index corroborates recent U.S. government data that suggests housing is mending in Arizona. Both Housing Starts and Home Sales have out-performed expectations of late, it’s been shown, and the stock of homes for sale nationwide is dwindling.
All of this, of course, is happening as demand from buyers heats up. Foot traffic through homes is higher than it’s been in more than 3 years, say the builders — a time period that includes the duration of the 2010 home buyer tax credit.
It’s no surprise, therefore, that agents expect a strong 2012 and a rise in new home prices.
Jobs data is improving, mortgage rates remain low, and housing momentum is building. For home buyers in Arizona , however, it may spell higher new home prices ahead. Big demand and small supply creates scarcity and scarcity correlates to rising prices.
If you are looking to sell your home, there hasn’t been a better time for quite some time now!