I’ve heard from a lot of people who are curious about what’s going to happen with the Phoenix real estate market in 2022. This year is starting much like the last one ended. We have a shortage of inventory, an excess of buyers, prices are still going up, and pretty much every area of town is seeing multiple-offer situations.
Interest rates are also starting to rise. My lender told me that rates that were around 2.5% are closer to 3.75% today.
All of this tells us that the market is adjusting, but it’s still a good time to buy or sell. You can get a great price for your home and still lock in a nice interest rate. Although rates are up from this time last year, they’re still very low from a historical perspective.
Everyone’s real estate goals and objectives are different. If you want some advice on your personal situation or have any other real estate-related questions, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.