Phoenix and Scottsdale Home Prices Up for 13 Straight Months

Phoenix and Scottsdale home prices have been rising for 13 consecutive months. Across the U.S., home prices showed annual gains of 10.5 percent in March, the largest since March of 2006. According to data from CoreLogic, Arizona had even higher gains. Home prices in the state rose a whopping 16.8 percent from March of last year, and in Phoenix alone, they rose 18.8 percent. Phoenix saw a bigger gain than any other city.

One reason behind the rising prices of Scottsdale homes and Phoenix homes is limited inventory. Homebuyers are beginning to bid more on limited homes for sale. In March, the supply of homes for sale nationwide fell 17 percent from the previous year. Meanwhile, low mortgage rates have boosted the demand for homes, causing prices to soar.

These price gains will help to sustain the market by increasing the number of home sales. Current homeowners will have the confidence to sell their Scottsdale homes and expect a decent price, while buyers will be encouraged to purchase homes before prices climb any higher. Also, as home values increase, so do Americans’ net worth. Consumers are more likely to spend, boosting the economy even further.

Though home prices are steadily rising, it is not too late to find amazing deals on Troon real estate. To schedule a viewing, call me at (602) 791-0536, or email Carmen@TopScottsdaleHomes.com. I would be happy to show you any homes for sale in Scottsdale.

Carmen Brodeur JD
Realtor
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260
(602) 791-0536
Carmen@TopScottsdaleHomes.com
www.TroonRealEstate.com