Smaller/starter homes continue to build equity the fastest
Inventory continues to enter the market at a steady rate and has been met with eager demand.
Homeowners are poised for another year of significant equity gain
2018 may be a great year to buy an investment property and enjoy both rising prices and rents.
Homes are selling at a brisk pace, still in less than two months on average, and inventory is down 6% from a year ago.
The most affordable homes are typically going under contract in a month or less, while luxury homes priced over $1 million are taking several months or more to attract serious buyers.
October 2017 saw a nice full 1.0% bump in average sales price, to $297,839.
Interest rates are fabulous and so is the weather--it’s a good time of year for serious buyers to successfully make offers.
As usual for Fall, the Phoenix real estate market is cooling down a bit along with the weather.