Arizona is a Growing Market
Metro Phoenix home prices are going back up which means now is the time to buy! The pick up in the real-estate market is a promising sign to the growth of Arizona’s economy.
The median price of homes for sale in Arizona has increased by about $12,000 which has yet to show any sign of decreasing.
THE LOWDOWN: The average U.S. rate on a 30-year fixed mortgage has fallen to near its record low set earlier this month.
HOW THEY RATE: The national rate on the 30-year loan, the most popular mortgage, dipped to 3.37 percent from 3.39 percent last week. Two weeks ago, the rate reached 3.36 percent, its lowest level on records dating to 1971. The rate on the 15-year fixed mortgage, often used for refinancing, set a record low of 2.66 percent, down from last week’s 2.70 percent.
HELPING HOUSING: Cheaper mortgages are helping fuel a modest but steady housing recovery. The average rate on the 30-year loan has remained below 4 percent all year.
What has made Arizona so able to recover from the crash of previous years is Arizona’s ability to adapt and still remain a desired place to live. Not only is Arizona a hot spot for up and coming bussiness’s it has made its mark on the map in areas such as entertainment, media, sports and finances.
Owning or investing in the Arizona market should be a comforting and promising feeling that your investments will create positive revenue.
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