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The Difference in Net Worth Between Homeowners and Renters Is Widening

8/30/2021

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The Difference in Net Worth Between Homeowners and Renters Is Widening

How to build wealth in Arizona
Becoming financially secure is an important goal for many people today, but some don’t realize just how much homeownership can help them achieve that dream. A recent report, The Journey Toward Financial Freedom, surveys Americans about their perspective on financial wellness and their goals. It shows there may be a significant misconception about the role owning a home plays in building wealth:
​
“Home ownership is one of the indicators Americans say is least connected to financial health.”

​Two major personal wealth goals – homeownership and net worth – work hand-in-hand. Below are just a few reasons why, if you’re looking for financial security, homeownership should be a top priority.
​

Homeownership Is an Important Cornerstone of Building Wealth

Every three years, the Federal Reserve releases the Survey of Consumer Finances which highlights the difference in wealth between homeowners and renters. The graph below shows the findings across the previous surveys including the latest data (2019), and the results are staggering:
How much housing wealth can you build in a decade?
As the graph illustrates, the gap between homeowners and renters continues to widen. That’s because homeownership contributes massively to an individual’s overall net worth. Odeta Kushi, Deputy Chief Economist at First American, highlights this idea:
​
“. . . between 2016 and 2019, housing wealth was the single biggest contributor to the increase in net worth across all income groups . . . .”

​When we look even closer at the most recent data from 2019, the average homeowner’s net worth is more than 40 times greater than that of the average renter (see graph below):
Owning a home is still more affordable than renting one
The gap exists in large part because homeowners build equity as their home appreciates in value and they pay off a portion of their mortgage each month. When you own your home, your monthly mortgage payment is, in essence, forced savings that come back to you when you sell your home or refinance. As a renter, you’ll never see a return on the money you pay out in rent every month.
​

If you’re ready to start building your net worth, the current real estate market offers several opportunities you should consider. For example, with today’s low mortgage rates, your purchasing power may be higher now than it has been in some time. That means there may be no better time than now to start working towards your homeownership goals – especially since rates are anticipated to rise in the coming months.
Bottom Line
​
​Owning a home provides one of the strongest foundations for building individual wealth and lasting financial security. If you’re ready to start your path towards homeownership, talk with a trusted real estate advisor today.
​

If you’re thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. A trusted real estate professional can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving the Phoenix Metro, and East Valley cities including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

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Troy Erickson Realtor | Twitter

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Phoenix AZ Real Estate Housing Market Report - July 2021

8/24/2021

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Phoenix AZ Real Estate Housing Market Report - July 2021

The average sales price of Phoenix homes decreased over $4,400, to $504,936 in July, after reaching an all-time high in June. At the same time, the average sold price per square foot increased from $257/sf in June to $261/sf in July.
 
After reaching a record low of 23 days on market over the last two months, days on market for Phoenix homes in July increased just one day to 24 DOM.
Phoenix AZ homes for sale | Troy Erickson Realtor
Phoenix home sales decreased from 1,686 in June to 1,511 in July, and after being up last month, sales are down -15.5% from July of 2020. The reason July 2021 sales are so much lower than July 2020 sales is because even though COVID-19 started shutting down our economy in March of 2020, June is when the Phoenix housing market opened up again, and by July we saw the largest number of Phoenix homes sold in all of 2020 (1,789), as you can see by the chart below. Phoenix home sales are still lagging a little behind pre-pandemic numbers, but I think the lack of inventory is impacting sales more than anything else.
Phoenix real estate housing report - July 2021
After increasing last month, the number of new listings decreased from 1,862 in June to 1,800 in July, yet they are still 1.0% higher than in July of last year. The number of active Phoenix listings increased for the second straight month, from 2,950 in June to 3,088 in July, but they are still down -5.8% from July of last year.
 
The lack of listings continues to drive demand and home prices higher, so if the number of Phoenix listings continues to be less than in previous years, expect home values in Phoenix to continue to increase.
 
With that said, median home values in Phoenix have increased an average of 28.6% since July of 2020. With interest rates remaining around 3.0%, there will still be more buyers looking to purchase Phoenix homes through the remainder of this year.
​
>>Click Here To See All Current Phoenix Arizona Homes For Sale<<

​For more detailed stats on the 
Phoenix Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Phoenix AZ real estate housing report | Troy Erickson
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Troy Erickson | Phoenix Real Estate
Troy Erickson Realtor | Phoenix Real Estate
Troy Erickson Realtor | Phoenix Real Estate

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Ahwatukee AZ Real Estate Housing Market Report - July 2021

8/23/2021

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Ahwatukee AZ Real Estate Housing Market Report - July 2021

After the average sales price of homes in Ahwatukee dropped $16,728 in June, it bounced back in July to a new all-time high of $598,420 last month.
 
The price per square foot of Ahwatukee homes has remained the same, or increased for five consecutive months. The price per square foot of homes sold in Ahwatukee increased in July to $258/sf.
 
Since reaching an all-time low of 23 days on market, the Ahwatukee DOM has increased for the second straight month, up to 27 DOM in July. Even though the DOM has increased the last two months, the demand for homes in Ahwatukee is high, and homes are still selling fast.
Ahwatukee AZ homes for sale | Troy Erickson Realtor
Ahwatukee home sales decreased 27 from last month, down to 123, which is the second month in a row that home sales have dropped. At 123 homes sold in July, this is a -16.3% decrease from July of 2020.
 
I believe much of this may have to do with the COVID-19 pandemic, and home owners holding off on listing their homes for sale throughout the first part of 2020. By June of last year, the Arizona housing industry was getting back to a more normal state and you saw a 21.6% jump in Ahwatukee home sales, from 120 in May of last year to 146 in June of 2020.
After averaging right around 150 homes sales per month the last three months, July's decrease may be a sign that the high buying season is ending for 2021, as summer nears its end. Even though there has been a lower than normal inventory of homes for sale, homes that are listed in Ahwatukee are still selling fast, and for more money.
 
The number of new listings slightly decreased to 143, after increasing last month to 145. The number of new Ahwatukee listings is higher than in July over the last four years, which may be a good sign that more home owners are looking to sell.
 
The number of active listings continues to increase slowly, but at 217, the number of active Ahwatukee listings still remains -12.9% lower than in July of last year. We still need more Ahwatukee listings due to the continued high demand from buyers.
 
The lack of listings continues to drive demand and home prices higher. Median home values in Ahwatukee have increased an average of 28.0% since July of 2020, which is amazing growth. With interest rates remaining around 3.0%, the demand from buyers looking to purchase should remain high throughout the remainder of 2021.
​

>>Click Here To See All Current Ahwatukee Arizona Homes For Sale<<
​
​For more detailed stats on the Ahwatukee Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Ahwatukee real estate housing report - July 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.

​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Ahwatukee, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Troy Erickson Realtor - Ahwatukee Real Estate
Troy Erickson Realtor | Ahwatukee Real Estate
Troy Erickson Realtor | Ahwatukee Real Estate

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Scottsdale AZ Real Estate Housing Market Report - July 2021

8/20/2021

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Scottsdale AZ Real Estate Housing Market Report - July 2021

After increasing over $56,000 between April and May, and reaching an all-time high of $1,247,173, the average sales price of homes in Scottsdale has decreased by $103,770 over the last two months, down to $1,143,403 in July. At the same time, the average sold price per square foot decreased for the second straight month, from $376/sf last month to $373/sf for July.
 
The days on market has decreased, or remained the same for six straight months (every month this year since January), and it decreased again in July to a new all-time low of 34 DOM. Homes are still selling very quickly in Scottsdale.
Scottsdale AZ homes for sale | Troy Erickson Realtor
After climbing to a high of 647 in April this year, Scottsdale home sales have decreased for the third straight month, from 600 in June down to 518 in July. This is the first month in 2021 that Scottsdale has had fewer home sales than in the same month last year, and that difference is -10.5% for July. This does have something to do with COVID-19, and the fact that the housing market was shut down between March and May of last year, but began to open up again starting in June of 2020. A decrease in home sales for May is a little early in the high buying season since more homes are typically sold in May than any other time of the year. A decrease in home sales after May is common, as the high buying season begins to wind down for the year.
 
The number of new Scottsdale listings decreased for the third straight month, down from a high of 739 in April to 595 in July, but are still slightly higher (2.8%) than in July of last year. The number of active listings decreased slightly for the second straight month from 1,278 in June, to 1,253 in July, and are still down -27.9% from July of last year.
 
The lack of listings continues to drive demand, but there seems to be a decline in Scottsdale home prices over the last couple of months. Home sales are occurring faster than ever, and inventory is down, but there has also been a decline in the number of homes being sold in Scottsdale, and that may be playing into the decline in sales prices.
 
With that said, median home values in Scottsdale have still increased an average of 22.8% since July of 2020, which is amazing. With interest rates hovering below or near 3.0%, there will still be more buyers looking to purchase a Scottsdale home the remainder of this year.
​
>>Click here to sell all current Scottsdale Arizona Homes For Sale<<

​For more detailed stats on the Scottsdale Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Scottsdale real estate housing report - July 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Scottsdale, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Troy Erickson | Arizona Real Estate
Troy Erickson | Arizona Real Estate
Troy Erickson | Arizona Real Estate

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Mesa AZ Real Estate Housing Market Report - July 2021

8/18/2021

0 Comments

 

Mesa AZ Real Estate Housing Market Report - July 2021

The average sales price of Mesa homes increased by $4,636, reaching a new all-time high of $486,403 for July. At the same time, the price per square foot has continued to climb, increasing from $234/sf in June to $240/sf in July.
 
After decreasing to an all-time low of 20 days on market in June, July saw an increase in the Mesa DOM to 22, and has now been hovering under 25 DOM for the last five months. This is extremely low, and means that homes in Mesa, AZ are selling very fast!
Mesa AZ homes for sale | Troy Erickson Realtor
After seeing numbers above 660 over the last three months, Mesa home sales decreased from 664 in June down to 625 in July. Home sales in Mesa are also lower than in July of last year by -11.0%, mainly due to the COVID-19 pandemic. In January through May of 2020 the housing market stalled due to COVID-19, but by June of 2020, the housing market was back in business, and people started buying and selling homes again (see graph below).
Mesa real estate housing report - July 2021
The number of new listings has remained over 725 for the last five months, and slightly increased from 734 in June to 741 in July. This is also a 2.3% increase from July of last year. There is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. The number of active listings increased from 1,108 in June to 1,185 in July. Although active listings continue to increase, the number of active listings in Mesa still remains lower than July of 2020 by -2.9%. There are still fewer Mesa homes being listed for sale compared to June of 2020.
 
The lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 26.9% since July of 2020. With interest rates remaining near or below 3.0%, there still should be more buyers looking to purchase in Mesa throughout the rest of this year.
​

>>Click Here To See All Current Mesa Arizona Homes For Sale<<

​For more detailed stats on the Mesa Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Mesa real estate housing report | Troy Erickson
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.

​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Mesa, AZ | Troy Erickson
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Troy Erickson | Best Chandler Real Estate Agent
Troy Erickson | Best Chandler Realtor
Troy Erickson | Top Chandler Realtor

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Tempe AZ Real Estate Housing Market Report - July 2021

8/16/2021

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Tempe AZ Real Estate Housing Market Report - July 2021

After June saw a $32,647 increase in the average sales price of Tempe homes, July saw a decrease in the average sales price of Tempe homes by $21,421. At the same time, the average sold price per square foot decreased for the first time in the last six months from $276/sf to $271/sf.
 
Days on market increased in July to 23 DOM, after recording an all-time low of 22 DOM the last two months.
Tempe AZ homes for sale | Troy Erickson Realtor
After increasing in four of the last five months, Tempe home sales decreased from 145 to 132 in July. With this decrease, Tempe home sales are -12.0% lower than in July of 2020. This is mainly due to the COVID-19 pandemic shutting down the economy last March, but by June of 2020, the housing market had already made a nice recovery, and sales increased. The only thing keeping Tempe from having a really good year for home sales is the lack of inventory. The low number of listings is impacting sales, even though we are nearing the end of the high buying season.
 
The number of new listings slightly increased for the third straight month, from 147 to 150 in July, yet they are still -10.7% lower than in July of last year. The number of active listings increased for the fifth straight month, from 243 last month to 271 in July, but are still down -9.7% from July of last year.
 
The lack of listings continues to drive demand and home prices higher, so if the number of listings continues to be less than in previous years, expect home values to continue to increase.
 
With that said, median home values in Tempe have increased an average of 25.0% since July of 2020. With interest rates remaining around 3.0%, there will still be more buyers looking to purchase in the remainder of 2021.
​
>>Click Here To See All Current Tempe Arizona Homes For Sale<<

​For more detailed stats on the Tempe Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Tempe real estate housing report - July 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.

​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Tempe, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Tempe Real Estate | Troy Erickson Realtor
Tempe Real Estate | Troy Erickson Realtor
Tempe Real Estate | Troy Erickson Realtor

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Gilbert AZ Real Estate Housing Market Report - July 2021

8/13/2021

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Gilbert AZ Real Estate Housing Market Report - July 2021

The average sales price of Gilbert homes seems to be fluctuating up and down over the last several months. After increasing by over $16,000 in June, the average sales price decreased by over $16,000, back down to $581,105 for July. At the same time, the price per square foot has continued to climb for the 13th month in a row, and is now up to $253/sf.
 
The days on market in Gilbert slightly increased from 19 last month to 20 DOM for July. This is the second increase in the last three months, but this is still extremely low, and means that homes in Gilbert are selling very fast!
Gilbert AZ homes for sale | Troy Erickson Realtor
Gilbert home sales decreased from 440 last month to 427 for July, and are -26.8% lower than in July of last year. I believe much of this may have to do with the COVID-19 pandemic slowing down home sales throughout the first part of 2020. By June of last year, the Arizona housing industry was getting back to a more normal state, and you saw a 59.7% jump in Gilbert home sales from 365 in May of 2020 to 583 for July of 2020.
 
The number of new listings decreased to 475 after jumping up to 527 in June, which is a decrease of -16.8% from July of last year. There is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. The number of active listings, while continuing to increase over the last several months, up to 740 for July, still remains significantly lower than last year. There are still -15.4% fewer homes for sale compared to July of 2020.
 
The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 30.8% since July of 2020. With interest rates still hovering around 3.0%, there should be more buyers looking to purchase throughout 2021.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report - July 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

​
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Troy Erickson Realtor | Arizona Realtor
Troy Erickson Realtor | Arizona Realtor
Troy Erickson Realtor | Arizona Realtor

​Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Chandler AZ Real Estate Housing Market Report - July 2021

8/12/2021

0 Comments

 

Chandler AZ Real Estate Housing Market Report - July 2021

The average sales price of homes in Chandler continues to break records each month, climbing to a new all-time high of $569,467 in July, increasing over $10,000 since last month. The average sales price per square foot has increased for 13 straight months, and is now up to $263/sf from $257/sf last month (and $194/sf in July of 2020).
 
Days on market increased to 23 DOM in July after reaching an all-time low of 20 last month. It was inevitable that the DOM would increase, as it could not continue to go much lower than 20. This still means that homes in Chandler are selling faster than they ever have, and most home sellers are receiving multiple offers, driving prices up.
Chandler AZ homes for sale | Troy Erickson Realtor
Chandler home sales decreased to 343 from 390 last month, and are actually down -23.1% from July of last year. This is a huge turnaround from May, where home sales were up 23.4% from May of 2020. I believe the large increase in Chandler home sales you saw earlier this year compared to last year had a lot to due with the COVID-19 pandemic. However, by June of 2020 the real estate business was starting to get back to normal. That is obviously being reflected by the fact that fewer homes were sold in July of 2021 (343) than in July of last year (445).

The number of new listings are up 2.4% from July of last year, even though many people continue to stay put, and there have not been enough new homes built to keep up with demand. At 620, the number of active listings is only down -6.7% from July of last year. This is much closer to 2020 numbers than having been down close to -20.0% throughout the first part of this year.
 
The lack of listings continues to drive demand, and home prices higher. Median home values in Chandler have increased an average of 26.3% since July of 2020, which is almost unbelievable. I wonder how much longer home values can continue to increase like this. With mortgage interest rates remaining around 3.0%, there are still more buyers looking to purchase in 2021 than there are homes for sale.
​
>>Click Here To See All Current Chandler Arizona Homes For Sale<<

​For more detailed stats on the Chandler Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Chandler real estate housing report - July 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Chandler, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

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Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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    Chandler and East Valley Blog: Troy Erickson Realtor

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    Troy Erickson

     "Real Estate is not just a job for me, it's about making a difference in the lives of others."​

    Troy has been blogging about Chandler and East Valley Real Estate in Arizona since 2006.  He stays current on local Chandler real estate by attending educational classes, and talking with title companies, home inspectors, lenders, members of the Chandler community, as well as constantly working with home buyers, home sellers, and investors within the Chandler and East Valley community.

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For more information – Contact Troy at (602) 295-6807, or TroyEricksonRealtor@gmail.com today.
Chandler Arizona Real Estate Search

Troy and Mia are your Chandler Arizona Real Estate Connection - an experienced team with Diverse Solutions Realty. Troy is a licensed Realtor in the state of Arizona.
See more at: ChandlerRealEstate.weebly.com