Realtor.com Predicts Phoenix As No. 1 Housing Market in 2017!
With one of the country's healthiest market with steady sales growth and price increases, tighter new home market and short supply of foreclosures, metro Phoenix is being predicted by Realtor.com as the top housing market in the U.S. in 2017. Los Angeles follows at No. 2 while Boston, Sacramento and San Bernardino round up the top five, respectively.
Valley home prices are forecasted to go up next year to 5.9 percent and sales to 7.2 percent. While not the biggest projected price increase on Realtor.com's list of top 10 markets in 2017, it is the biggest sales increase. After all, the Valley offers more affordable home prices to home buyers especially when compared to the other markets in the top five.
And just to the south of Phoenix, Tucson ranks as the ninth best housing market in 2017 with an expected 6.1 percent jump in prices and 5.5 percent gain in sales.
Analysts note that while interest rates are on the rise because of anticipated wage and job growth, the 30-year rate is still historically very low.
Click here to read the original azcentral.com article.
Special thanks and shoutout to Yvette Myer of Old Republic Home Warranty for the heads up!
If you have any topics or questions you would like answered, contact The Shanna Day Dream Home Team - we’ll find the answers for you!
Shanna Day Dream Home Team
Keller Williams Realty East Valley