Metro Phoenix Renters Are Now Buying Homes!

Is the cost of renting in the Valley making you think of buying a home? Don't worry, you're not alone- and others just like you have already started buying homes in Metro Phoenix.

From early 2016, the cost of renting a Valley house or condo climbed to $150 a month while average rent for apartments rose to almost $50 a month from last year. More recently, the median price to rent a home or condo in the Valley went up to almost $1,400 in August.

So it might come as no surprise if Metro Phoenix home sales is at 8,113 through August this year. And if the rising cost of rent is making you strongly consider jumping into homebuying, you might need to make a move soon. Metro Phoenix’s median home price is at $245,000 which is about a 7 percent increase from last year. The rise of Valley home prices did cool off a bit in the past few months but you might not want to delay buying a home especially if you value your home purchasing power!

Ready to make the switch from renter to homebuyer? Then let's go find your dream home!

Source:

azcentral.com

Metro Phoenix Renters Are Now Buying Homes!