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Now Is the Best Time for Homes for Sale in McDowell Mountain Ranch AZ

Now Is the Best Time for Homes for Sale in McDowell Mountain Ranch AZ

 

The second half of 2015 is the best time to list your homes for sale in McDowell Mountain Ranch Scottsdale. The demand for homes is back and what’s even better is – home prices are continuing to rise!

Act fast and sell your McDowell Mountain Ranch homes for sale when the timing is perfect!

“Over one-third of homes sell in two weeks or less in the markets we track,” says Redfin’s chief economist, Nela Richardson. This means that homes are selling like hotcakes in today’s market. Most homes stay in the market for 39 days or even less than a month.

This comes as no surprise since there is a limited supply of homes in the current national market, mostly brought about by the fact that most homeowners with underwater homes won’t put their property on the market. Some underwater homeowners with mortgages are locked out of trading their homes. In April, nationally, there was a supply of 2.21 million homes which only represented a 5.3 month supply, which falls short of the 6 month supply needed to balance supply and demand.

In the greater Phoenix area, the absorption rate is 45.7 % with only  2.19 months of supply, a much stronger market than nationally. And, homes are selling at 97.74 % of list price. These are June 2015 figures. The number of active listings in McDowell Mountain Ranch currently is 57, with 26 pending sale homes. This means that in the current market, demand for housing is greater than supply, making it a great time to list and sell McDowell Mountain Ranch homes for sale.

Here are reasons why this is the best time to sell your homes for sale in McDowell Mountain Ranch AZ!

Another good news for sellers is that home prices will continue rising at rates higher than anticipated. Selma Hepp, Trulia’s chief economist predicts that we are looking at a 7% to 8% increase by the end of 2015. On the other hand, mortgage interest rates are also expected to hit around 4% to 5% by the end of the year. This combination of rising home prices and mortgage interest rates will get buyers scrambling for homes for sale in McDowell Mountain Ranch AZ before prices are expected to increase.

Other factors that contribute to the ideal climate for home sellers is the increase of closed sales of existing homes by 5.1% in may 2015 as more first-time home buyers are returning to the housing market.

For over a year, jobs creation has been steady, giving homebuyers more buying power and the housing market a big boost this spring.

The decrease in inventory, increasing home prices, increasing mortgage rates, and steady job creation, all make it the best time to sell your McDowell Mountain Ranch home for sale. Don’t wait until the increases start to happen because once they do happen, sales are expected to drag, so find a McDowell Mountain Ranch home agent and list your home now!

For tips in selling your McDowell Mountain Ranch home, check out www.ScottsdaleAZHomes.net.

Call me, Sandy Mager at 602-577-0500 if you need help in selling or buying homes for sale in McDowell Mountain Ranch Scottsdale. I have the knowledge, expertise, and tools to help you close that deal and make your dream home a reality!

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