Phoenix and East Valley Arizona Housing Outlook for 2021
Currently there are just over 5,000 active homes available in the Arizona MLS, and just under 2,500 homes for sale in Phoenix and the East Valley. To show how far off we are from a more neutral market, there would need to be closer to 25,000 active homes available for sale for the market to be considered neutral (neither a buyer's or seller's market).
With all of the surprises in 2020, the housing market remained very stable overall. Expectations for the 2021 housing market will not be much different than in 2020, although the trend will be that interest rates will gradually increase, more homes will enter the market to sell, and home values will increase but at a slower pace. The overall housing market in Phoenix and the East Valley should be positive in 2021.
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.