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The month of August 2020 brought the Phoenix real estate market a mixed bag of good news despite the ongoing pandemic. Nationally people can now afford homes more than ever thanks to lower mortgage rates. The real estate market has noted a ten percent increase in buying power across America, which means that it’s an ideal time to purchase a home in Phoenix, Arizona, due to the housing market’s favorable investment atmosphere.
As a realtor who has for the past 22 years and counting, specialized in selling and purchasing houses in Phoenix, it is my job to know. I enjoy the chasing of numbers so that I can be able to offer the best deals to my existing and future homeowners. That is why I have compiled this update of the real estate market in Phoenix for August 2020.
The Market Data For Phoenix Real Estate
To start, the average sales price for property in Phoenix is about $402,000. Brian Eastwood Real Estate was able to sell 9,227 homes within one year. When that figure is compared to the one in the previous year, the number of total households we traded in Phoenix has risen by 3.5 percent. That’s a good thing because more people have become homeowners within Arizona for over twelve months.
