If you need assistance, please call 480-845-0048

Home prices likely to increase in 2018

Thursday, January 11, 2018   /   by Ellie R.T.

Home prices likely to increase in 2018

We advised buyers who were on the fence one year ago that if they were planning on buying within the next couple years, they should do it sooner because prices would continue to rise for the foreseeable future. 
At the dawn of 2018, we have the same guidance. In fact, it's even more urgent than one year ago. The market is in an interesting predicament as we start the new year. Supply is extremely low, and this typically means one thing for prices:  ↑ 
Here are numbers to give you an idea of what the market is doing: 
  • Active listings are down by nearly 14 percent from one year ago (and 9 precent from last month)*
  • Average sales price per square foot is up 8 percent from last year (while general inflation has stayed the same) 


Other factors add to the urgency, including rising interest rates.
So what does this mean for you? 
  • Buyers: If you are in the market, you should probably put the pedal to the metal. Prices look like they are going to increase at an even higher rate this year than last year. 
  • Sellers: Do the buyers a favor and put your house on the market to add some more inventory! You will be rewarded handsomely in this seller's market.
  • Investors: With all indicators pointing towards increased pricing, this could be a fantastic time to invest in real estate. We would love to show you the numbers. 
  • Everyone else: stay tuned to see what happens. This is bound to be an exciting year for real estate!
* Research of Mike Orr

  real estate market, buying a home, selling a home, seller's market, housing trends

Elite Results Realty
Rob Hale
1744 S. Val Vista Dr Ste 206
Mesa, AZ 85204
480-845-0048

© 2020 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Elite Results Realty are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. December 1, 2020
© 2020 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Rob Hale - Elite Results Realty are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. December 1, 2020
This site powered by CINC: www.cincpro.com