It is the common question on the mind of every new homeowner, when is the right time to buy a house in Arizona? Or what is the right season to purchase a house in Arizona? Many factors play a significant role when it comes to purchasing a house in Arizona. Although there are certain months when houses are available at cheaper prices and others when they’re found expensive, there are some factors as well like buying and selling waves, the housing market influencing the rates and the general economy. So, it is not very simple as it may appear to decide on the right time to buy a house in Arizona. So, consider the following things altogether to learn about the best time to purchase a house in Arizona.
Best time to buy a house in Arizona (General Arizona Market)
An important thing to keep into consideration while looking for rates of houses in Arizona is the general Arizona market. According to an estimate by Zillow.com, the value of a home will increase by 8.4% next year and it has already increased by 8.2% in last year. The market heavily leans towards sellers. Since 2012, the value of home prices has steadily and consistently increased over the years.
Given this when there are intermittent changes from one season to another, the right time, in general, is as soon as possible, if you want to buy a home in Arizona. If you don’t know the general housing market trend in Arizona, you can get help from a trusted real estate company like Surprise AZ Real Estate Professional in Arizona to get the best possible deal.
Best season to buy a house in Arizona
The best time to purchase a house in Arizona is during the summer. In Arizona, when the temperature in summers goes high at about 120OF, the locals tend to move towards cooler locations. With this, there are fewer buyers available in the market generating the right conditions to get the most suitable deal possible.
Obviously, it is not right for all parts of Arizona. Sedona and Flagstaff are the two northernmost areas of Arizona that don’t get very hot in summers because the temperature doesn’t go above 80OF in August.
The height of the housing market in Arizona is chaotic, with high demand in three months i.e. December, January, and February due to freezing situations in cities with cold weather and many events and activities that compel homebuyers from out of the state.
The Arizona real estate market in summer is the best meeting point for serious buyers and serious sellers, as non-serious sellers remove their houses from the market that actually cuts the clutter and makes the home buying process much easier and faster.
When it comes to Phoenix, it is unique. When many metropolitan places have plenty of new homes listed in the spring season, Phoenix usually has more homes listed in January, March, and April. July, November, and December are the months when there are fewer new homes listed in Phoenix.
Some data represent that the months when the most substantial percentage of buyers bought a house above the listing price in Phoenix are April, May, and July. However, October, November, and December are the months where the chances are less to purchase a house above the listing price.
It implies that late fall is the best time to grab a good deal on a house in Phoenix. Sellers can be inspired to move before holidays and you can easily get the deal without competing with the other buyers at this time of the year.
An important thing to remember that summer is nationally the expensive time to make a purchase. It is nationally more concentrated as the heat at other summers maybe not so bad. The price influx is due to parents competing for houses with access to schools.
Nationwide stats depict that January and February are considered the lower price points as compared to June and August. Thus, you will find a lot of other articles regarding the national stats showing that January is the best time to buy a home in Arizona. But, similar to heat in the state, things are different in Arizona.