Good question. Home prices have risen 26% since a year ago as stated in the Arizona Republic this week. The ASU school of Real Estate expects prices to rise through 2014.
Right now with mortgage rates increasing this has fueled another mild rush to buy homes before prices and rates go up further. When will it top off, nobody can predict with certainity. The National economy and socio-economic events are ever changing.
Right now homes are at recent highs. The old adage is buy low and sell high.
Now may be the time for you. Depends if you need the cash to buy another home? The prices on home you will be going to buy will be going up also unless you are moving to another state or less expensive area.
Call with any questions.
Jeffrey Masich, Realtor, GRI, MBA
Arizona homes and land for purchase or sale