Market Trends for Selling Homes in Arizona’s 55+ Neighborhoods is a complex and ever-changing entity, which can impact your real estate investments in a variety of ways. Keeping up with the latest trends can help you navigate the market as a buyer or seller, and ensure you’re getting the best value for your home.
According to the latest housing market data, 2024 is a great time for buyers and sellers in the Arizona 55+ community market. The state’s average price growth is below the national average and interest rates are still low, which can help you save on your mortgage payment and boost your buying power.
Current Market Trends in Arizona’s 55+ Neighborhoods
However, it’s important to note that average days on the market have been increasing over the past year. This can be attributed to an increase in inventory and rising prices, which has given buyers more leverage in negotiations. Despite this, it’s still a solid seller’s market, so if you have the ability to stay on top of current market conditions, it’s a good idea to list your home now.
For buyers, it’s also important to consider your timing and be flexible with your search. The housing market tends to be strongest in spring and summer, with a secondary peak in October before slowing down over the winter. If you have the flexibility, starting your search in late spring or early summer can help you find the perfect home before competition picks up later on.