Whether you already own a home and aren’t moving for the foreseeable future, or if you’re looking to sell your piece of real estate in Tempe, we’ve got some good news for you. Right now real estate agents in Tempe are using one word to describe the market and that’s HOT!
In the past year, real estate values in Tempe have increased over nine percent and, according to Zillow, they are expected to keep rising; it’s estimated that within the next year they’ll increase another four percent. That’s a 13 percent increase in a matter of 18 months. What more could a homeowner ask for? It doesn’t matter if they’re looking to sell their real estate in Tempe or stay in it, the amount of equity in their home is increasing each time their home value increases.
Currently, with buyers fully aware of increasing home values and historically low mortgage rates, quality real estate in Tempe isn’t staying on the market long. Real estate agents in Tempe say that once a buyer finds a home that’s right for them, they’re taking action to ensure another buyer doesn’t come in and take what they want.
One last promising thing about the healthy real estate market in Tempe is that the number of foreclosures is well below the national average as well as the average for the Phoenix metro area. This wasn’t the case a few years ago when the housing market was recovering from its historic crash. Real estate agents in Tempe say this is an important factor because the number of foreclosures directly impacts home values. Things are definitely looking good for the real estate market in Tempe.