Where will 2024 Home Prices and Mortgage Rates Be?

By
Real Estate Agent with HomeSmart Real Estate BR632450000

Have you contemplated what home prices and mortgage rates will be in 2 years from now or 2024? Not clearly coming into focus? (Photo: Crystal Ball by BrandeePember Pixabay)

I have a feeling home prices and mortgage rates will be both higher than they are now. Home Buyers will be saying....oh ONLY if we had purchased back in 2022.

Those that have purchased a home during the past year have made a great investment and their wealth is still growing and their monthly payments are LOCKED IN with home prices, mortgage rates and overall inflation increasing.

In fact, actual families that have purchased a home have seen their Phoenix area homes double in price during the past 5 years. Home ownership is also the American dream and a chance to build equity and see your home appreciate. May be time to STOP DREAMING and stop procrastinating or putting it off any longer by giving me a call or text at 480-242-6500 for Homes For Sale in Phoenix Metro. (Dreaming photo- SkitterPhoto from Pixabay)

Metro Phoenix’s median home price should hit another record $470,000 in April and will likely increase again to $475,000 by mid May (once final numbers come in) per the Arizona Republic on May 2, 2022.

Home prices have about DOUBLED since 5 years ago in the Phoenix Arizona metro including Scottsdale, per Catherine Reagor in the Arizona Republic on February 27, 2022

Home Appreciation

Those that did not procrastinate and ACTED and bought homes in the past 5 years have seen their homes double in price and accumulate appreciation equity. Not many investments do that and a family gets to live in the home and enjoy it. NOT BAD! (Photo: Home Equity and Selling Price increases from Pixabay)

 

Median House Prices Last 3 Years in Phoenix Arizona Metro

$475,000 May 2022 (forecast from MLS contracts in system)

$470,000 April 2022 (Expected pending final numbers)

$460,000 March 2022 

$450,000 February 2022

$427,000 December 2021

$333,000 December 2020

$290,000 December 2019

Current Homes For Sale (Detached Single Family) For Sale in Phoenix Metro

See Homes For Sale in Phoenix Metro including Scottsdale (single family detached) always up to date on FULL PAGE view and create your own MLS Search Portal

Moving to Sunny Arizona

Are you ready to move...think about the sunny Phoenix metro in Arizona? Yes prices are on the rise but rising mortgage rates are still closer to historic lows at 5.1% than highs. Both home prices and mortgage rates are expected to rise further in 2022. 

Living in the Phoenix Metro Area including Scottsdale                 

Jeff Masich discusses living and buying a home in Phoenix metro area and Scottsdale

Meet Jeff Masich REALTOR® Phoenix Metro Area including Scottsdale

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To learn more about Scottsdale living or anywhere in the Phoenix metro area and to see homes for sale Scottsdale Homes For Sale or Arizona Homes For Sale.

Here is a FREE MLS Search and your very own MLS Search Portal for homes for sale in Arizona. I, Jeff Masich would be pleased to help you find Arizona Homes For Sale and the right home at the right price!

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Posted by

Jeff Masich

Broker/REALTOR®

Scottsdale including Phoenix, Tucson and Prescott metros and throughout Arizona


Buy/Sell with Arizona Homes and Land Group. Ask me, Group Leader about Metro Homes or Ranches and Large Acreage properties throughout the state.

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