Crystal Ball: Phoenix Metro Home Prices up in 2017

By
Real Estate Agent with HomeSmart Real Estate BR632450000

My crystal ball is starting to clear up...yes I see it now. Prices will increase on homes in the Phoenix metro area including Scottsdale during 2017

Realtor.com® has completed it's annual housing forecast. The Phoenix, Arizona metro is expected to be number 1 in price growth among the top 100 metros in 2017.

 

The Realtor.com® 2017 top 10 housing markets based on price and sales gains

1. Phoenix-Mesa-Scottsdale, Ariz.;

2. Los Angeles-Long Beach-Anaheim, Calif.;

3. Boston-Cambridge-Newton, Mass.-N.H.;

4. Sacramento–Roseville–Arden-Arcade, Calif.;

5. Riverside-San Bernardino-Ontario, Calif.;

6. Jacksonville, Fla.; 7. Orlando-Kissimmee-Sanford, Fla.;

8. Raleigh, N.C.;

9. Tucson, Ariz.; and

10. Portland-Vancouver-Hillsboro, Ore.-Wash.

Home for sale in Phoenix metro                   Home sale price increases in Phoenix, Arizona metro expected to lead nation in 2017

 

Realtor.com® said in November 2016, "The 2017 housing market will be a year of slowing, yet moderate growth, set against the backdrop of a changing composition of home buyers and a post-election interest rate jump that could potentially price some first-timers out of the market, according to the realtor.com® 2017 housing forecast released today. The report also predicts the top five housing trends of 2017, as well as home prices and sales for the 100 largest metros in the U.S. 2017 National Housing Forecast. The 2017 national real estate market is predicted to slow compared to the last two years, across the majority of economic indicators. Home prices are anticipated to increase 3.9 percent and existing home sales are forecasted to increase 1.9 percent to 5.46 million homes. Interest rates are expected to reach 4.5 percent due to higher expectations for inflationary pressure in the year ahead.

house prices going up                                              House prices will go up in 2017 in Phoenix, AZ metro area

 

Realtor.com® is forecasting the homeownership rate will stabilize at 63.5 percent after bottoming at 62.9 percent in 2016. New home sales are expected to grow 10 percent, while new home starts are expected to increase 3 percent. 

 

To see homes for sale in Arizona or homes for sale in scottsdale.

Posted by

Jeffrey Masich, Associate Broker, REALTOR®, MBA, GRI, BS Accounting

HomeSmart

Scottsdale, Arizona

JeffMasich@ArizonaHomesLand.com

http://ArizonaHomesLand.com

480-242-6500

 

 

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Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I love the photos. Thanks for the post.

Jan 17, 2017 05:10 PM #1
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

What a great market to be working in! 

Jan 17, 2017 05:36 PM #2
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Beautiful images and very inviting place to buy homes anytime but summer.

Jan 17, 2017 08:33 PM #3
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jeffrey Masich - what a beautiful landscape - one of the reasons I love AZ! This color of the sky is possible only in AZ and in photoshop.......

This color of the sky is possible only in AZ and in photoshop.......

Jan 18, 2017 08:39 PM #4
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

(I like the #3 - Boston, Cambridge area where I belong....lol!)

Glad to see that Arizona is predicted to be #1 by annual housing forecast from Realtor.com®

It seems the most market will either go up slightly - and slow year by Realtor.com® is something we have to see.

Jan 18, 2017 08:43 PM #5
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks a lot Jeffrey Masich for your contribution to this contest - really appreciate it.

All the best for 2017.

Jan 18, 2017 08:43 PM #6
Rainmaker
1,272,168
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

Home prices continue to advance this year in L.A. since the inventory is so low. 

Amazing pictures! Thanks for sharing! 

Mar 05, 2017 11:18 PM #7
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Rainmaker
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Jeffrey Masich- Associate Broker,MBA,GRI

Arizona Homes and Land Group/ Buy or Sell
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