Is Now A Good Time to Buy a House in Arizona 2020?
Are you currently interested in Arizona homes for sale in the Phoenix metro area? Are you also wondering if now is a good time to buy a house or an investment property in Greater Phoenix? Over the past several years, the Arizona real estate market has been sizzling hot and real estate appreciation rates have increased year-over-year in the entire Metro Phoenix area. Even with the Covid-19 pandemic, sales prices in the Phoenix area housing market are not declining. Current trends fairly predict that the Phoenix home prices and real estate appreciation rates in 2020 are very likely to be the same as in the past year. In January, many experts expected moderate growth and moderate price appreciation in 2020. In March, the Metro Phoenix’s median home price hit a record of $302,500. The median sales price in Maricopa County for the first quarter was $309,990 - up by + 12.7% from last year.
The Phoenix housing market is much larger than Phoenix itself. The capital city of Arizona, Phoenix is the center around which 30 communities have grown in an area known as the Valley of the Sun. Home to an estimated 4.5 million people, the area including the city of Phoenix and its sprawling suburbs is massive. The region is fast becoming a top destination for people living in high-cost areas. Overall, the cost of living in Phoenix is 5% lower than the national average and significantly more affordable than in other places like Los Angeles, San Francisco, Sacramento, and Seattle. Phoenix home prices were up by about 7% over the last twelve months, but despite the increase in property prices, the Phoenix market continues to remain much more affordable than many other metro markets in the U.S.
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Cathy Carter is a highly-rated Arizona REALTOR® with over 25 years of experience in the Phoenix metro area real estate market. Uniquely qualified, Cathy can provide you with all the resources and the information you need in order to explore your options and make the best home purchase decision. From urban condos situated in the heart of things, single-family homes in quiet neighborhoods and gated subdivisions, upscale homes in exclusive golf course and waterfront communities, sprawling horse properties, to stunning luxury estates with breathtaking views, the Phoenix area accommodates every lifestyle and buyer. To find out more about Arizona homes for sale in the Phoenix area, feel free to contact Cathy directly at (480) 459-8488 or you can get in touch here.
More About The Phoenix, Arizona Real Estate Market
The area’s favorable living conditions, year-round warm-dry climate, affordability, and numerous amenities (cultural attractions, outdoor recreation, over 200 top-rated golf courses, and professional sports teams), have continued to spur real estate investors and buyers to invest in the Arizona real estate market. Metro Phoenix has everything you could possibly want or need for quality living, making it an attractive area to settle down in and buy a home.
The region has also become a hub of commercial activity as more and more businesses are choosing to move to Phoenix from other parts of the country - fueling the local economy. The Phoenix area’s more reasonably priced housing, lower cost of living, available workforce, and stable climate forecast a growing economy and stronger housing growth.
Downtown Phoenix has experienced a major renaissance in recent years. Restaurants, art galleries, retail shops, and all types of businesses have moved in, which has spurred a series of new developments ranging from apartment complexes to new hotels and high-rises. For those who prefer the comfort of suburban living, surrounding Southeast Valley communities like Scottsdale, Chandler, Sun Lakes, Gilbert, Queen Creek, San Tan Valley, Mesa, Tempe, and Ahwatukee offer their own local culture, personality, and charm.
With the quality of a school system often being the deciding factor on where parents with school-age children chose to live, the Phoenix area has many nationally-recognized school districts filled with top-rated schools. Phoenix is home to 325 public schools in 30 school districts along with more than 200 charter and private schools. Arizona State University, one of the largest public universities by enrollment in the U.S., has 5 campuses in the Phoenix metro area, and the University of Arizona College of Medicine is located in downtown Phoenix.
For those who want to know “if now is a good time to buy a house in Arizona 2020?” the answer is yes. The dynamic Phoenix area is booming and the housing market continues to be one of the highest appreciating markets not only in Arizona but in the nation as well.
Partner with A Top-rated Arizona REALTOR® - CATHY CARTER
Whether you are interested in Arizona homes for sale or it’s time to list your current property, experience matters most in a changing market. Serving the greater Phoenix area for over two decades, Cathy provides the kind of knowledge, skills, dedication, and personalized service that’s hard to find. For buyers, Cathy has access to the most up-to-date MLS listings across the valley and is an expert at matching her client’s lifestyle needs with the perfect home. For sellers, Cathy has the experience and skills necessary to handle the marketing and sale of your home to get it sold as quickly as possible and for the highest market price.
If you or someone you know is interested in buying or selling Phoenix area real estate, please contact Cathy Carter today at (480) 459-8488 or you can reach her here.
CATHY CARTER, ABR, CRS, CDPE
RE/MAX Alliance Group
725 W. Elliot Rd., Suite 111
Gilbert, AZ. 85233
Cell: 480-459-8488
Toll-Free: 800-519-5578
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