Competitive Arizona Home Market
As you can see by all the offers on these properties, the competition is very difficult to overcome. However, please contact me to discuss the strategies that may be available to us to help you succeed!!!
Your GOLF LIFESTYLE Professional™
As you can see by all the offers on these properties, the competition is very difficult to overcome. However, please contact me to discuss the strategies that may be available to us to help you succeed!!!
From RISMedia Staff article Feb 1:
Consumer demand coupled with low residential inventory created one of the hottest housing markets in decades last year. It was a record-breaking year for home price growth. According to new data from CoreLogic’s Home Price Index (HPI) and HPI Forecast for December 2021, price appreciation averaged 15%, up from the 2020 full year average of 6%. Home price appreciation began 2021 at 10% in the first quarter, steadily increasing and ending the year with an increase of 18% for the fourth quarter, according to the report.
While there have been concerns about a housing bubble, the CoreLogic Market Risk Indicators suggest a small probability of a nationwide price decline, and points to the larger likelihood that a fall in price will be limited to specific, at-risk markets.
Nevertheless, the CoreLogic HPI Forecast shows the national 12-month growth slowing over 2022. During the early months of the year, it’s projected to remain above 10% while decelerating each month to a 12-month rise of 3.5% by December 2022. Comparing the average projected National HPI for 2022 with the previous year, the CoreLogic HPI Forecast shows the annual average up 9.6% in 2022.
Key findings:
What it means:
“Much of what we’ve seen in the run-up of home prices over the last year has been the result of a perfect storm of supply and demand pressures,” said Dr. Frank Nothaft, chief economist at CoreLogic, in a statement. “As we move further into 2022, economic factors–such as new home building and a rise in mortgage rates—are in motion to help relieve some of this pressure and steadily temper the rapid home price acceleration seen in 2021.”