Will Arizona Home Values Continue to Increase?

Recent projections for the Arizona housing market look like home prices may continue their steady rise through the end of 2022 and into 2023. 

As with any product, housing follows the law of supply and demand. When demand is high and supply is low, prices rise in response. According to AZ Big Media, the Valley continues to be an attractive option for businesses and individuals, with the U.S. Census Bureau reporting that the City of Phoenix added 163,000 residents over the last decade - all of whom needed a place to live. Considering all of Arizona’s population growth and a statewide shortage of new housing, home prices had nowhere to go but up.

What About Interest Rates?

 Mortgage interest rates are looking good for today’s Phoenix homebuyer. According to real estate data source Redfin News, demand is picking up now as mortgage rates have fallen to a four-month low.

The seasonally-adjusted Redfin Homebuyer Demand Index—a measure of requests for home tours and other home-buying indicators from Redfin agents—was down 9% year over year during the week ending July 31, 2022 but has risen 21 points since the week of June 19, 2022. Improving mortgage interest rates have probably influenced the number of buyers on the search for a new construction home in the Phoenix area and nationwide right now.

There are Many Reasons to Buy Now in Phoenix.

 The Phoenix housing market has been one of the highest appreciating areas not only in Arizona but nationwide for more than two years. The speed with which Phoenix area residential properties have grown in value, particularly recently, gives new home buyers almost instant appreciation on their property. Equity has been practically built in.

           The Norada Real Estate Investment firm points out valuable reasons to choose your own new home in the fast-growing, fun-loving Phoenix area. In addition, rising values and easing mortgage interest rates are only two among many reasons to invest now in a new home by William Ryan Homes Phoenix.

What’s great about Phoenix: 

·      One of the fasted growing metropolitan areas in the U.S.

·      An available workforce including technology and medical personnel.

·      Vigorous job growth over several years in many fields.

·      An affordable cost of living.

·      A sunny climate free from extreme natural disasters.

·      Staggering natural beauty with mountains, forests, deserts, rivers, and abundant native wildlife.

As captivating as these many qualities are, they barely scratch the surface of all there is to love about life in the Phoenix area, particularly in a new William Ryan Home personalized expressly for you.  

Phoenix Suits Your Tastes. So Should Your New Home.

If you’ve spent time researching the lifestyle in Phoenix online, we hope you visit soon to experience it all in person. But whether you’re new to the area or a relocator from within Arizona, make sure William Ryan Homes is on your must-see new home construction list.

 One reason so many Phoenix families choose new home construction built by William Ryan Homes is that every home buyer is encouraged to personalize their new home to their own style. Our Phoenix Design Center in Goodyear gives you a spectacular place to examine hundreds of tile and flooring samples as well as options so you can create the home of your dreams. And you won’t be alone. William Ryan Homes Phoenix assigns a professional Design Center Specialist to every new home buyer who will guide you through the process of personalizing your home to your tastes.

 You’ll be glad to know that William Ryan Homes Phoenix is committed to energy efficiency and the kind of construction that saves you money.

 Currently, we’re building in five cities throughout the Phoenix area including Buckeye, Goodyear, Mesa, New River and Avondale. Our six top-rated master-planned communities with new construction homes in the Phoenix area are Harmony at Montecito, Eminence at Alamar, Broadleaf at Verrado, Fairways in Victory at Verrado, and Wavelength at Eastmark.

To learn more about choosing a brand new William Ryan Home, please call our Online Sales Counselor, at 602-903-2330 to request an appointment.