Interest Rates Are Projected to Stay Low

In the latest projections from Freddie Mac, interest rates for a 30-year fixed-rate mortgage are expected to remain at or near 3% next year. These low rates will continue to make homes more affordable, driving demand for housing in 2021.

#interestrates #interestratesarelow #interestratesaredown

Million-dollar home sales soar in metro Phoenix despite pandemic

In the midst of a pandemic, wealthy buyers are snapping up metro Phoenix's million-dollar homes at a record pace.

Read more... https://www.azcentral.com/story/money/real-estate/catherine-reagor/2020/11/15/million-dollar-home-sales-soar-metro-phoenix-despite-pandemic/6267235002/

COVID-19 Has Changed The Housing Market Forever. Here’s Where Americans Are Moving (And Why)

Amid all the uncertainty brought on by COVID-19 over the past six months, one thing is assured: the pandemic has re-ordered real estate markets across the board on an unprecedented scale.

Read more... https://www.forbes.com/sites/petertaylor/2020/10/11/covid-19-has-changed-the-housing-market-forever-heres-where-americans-are-moving-and-why/

Phoenix Real Estate Market 2020: Housing Prices & Forecast

Even after suffering from the pandemic, the Phoenix housing market 2020 still comes out on top. As we saw Arizona real estate market thriving & becoming sizzling hot in the past couple of years, even the rise in mortgage rates was believed not to affect it. We've been seeing real estate appreciation rates increasing year-over-year in the entire metro area. The Greater Phoenix area was also predicted to be among the top housing markets in the year 2020. It is now clear that the pandemic could not change that prediction. It could only pause sales, which in turn created a huge pent up demand.

Read more... https://www.noradarealestate.com/blog/phoenix-real-estate-market/