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Can You Still Be Successful with Arizona Rehab Loans in 2020?
The housing shortage created a seller’s market in 2019, but experts say a major shift is coming in 2020. Start evaluating options for Arizona Rehab Loans again—your buying power will go farther.
Housing stock throughout the country hit record lows in 2019. The trend was largely brought about by favorable interest rates, which gave first-time buyers the confidence they needed to take the leap. Millennials, in particular, began entering the market in masse. Much of the generation watched their parents struggle through the recession, as well as the corresponding job and home losses. This, paired with high student loan debt, made them wary of purchasing in the past, but market conditions helped them overcome their concerns and created a massive surge in entry-level single-family home sales.
According to CNBC, supply dwindled to less than four months of stock, with certain areas being harder hit than others. Six months of stock indicates a healthy and balanced market. Although changes were seen across the board, it’s most noticeable in the $100,000 to $250,000 bracket. National vacancy rates are all the way down to 6.8%, representing a 7.1% drop in just a year. Ultimately, the diminished supply also increased housing costs. Buyers have seen ... more

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