THE GREAT AMERICAN HOUSING BOOM IS HERE!

This is a quote from one of my recent buyers: “Not only did we get a better interest rate, but also a 25-year loan instead of the 30 year, saving us more than $30,000.00.”

COVID-19 has plenty of people feeling uncertain about the economy and their investments. With so many questions about what the future holds, it’s easy to imagine why adverse sentiment is widespread. However, there’s no reason to dwell in pessimism, especially when it comes to the Scottsdale residential real estate market.

Active real estate investors understand that times of crisis offer opportunities to discover the best deals. With companies changing their workforce configurations, people changing careers, and other influences causing people to move around the nation, it’s time for savvy investors to pick winners.

The Nationwide Housing Market Is Booming

The recent nationwide housing trends are attention-grabbing. Some impressive statistics include:

• The U.S. residential housing market holds a value of thirty-five trillion dollars.
  
• Home sales rose fifty-five percent in July.
  
• Americans seeking home refinancing rose to a robust one hundred eleven percent.

All of those numbers are incredible and point to the fact there’s a fundamental transformation occurring in the housing market.

Driving this change is the disruption in large urban centers and growing demands for remote workers. Work from home opportunities is plentiful, and unpleasant living conditions in urban centers make these areas a less attractive and cost-effective place to call home.

Moving to a place with better weather, a more reasonable cost of living, and other lifestyle upgrades are sensible in situations that no longer meet your needs.

Scottsdale Has What Modern Homebuyers and Renters Want

Unsurprisingly, many people choose to move to Scottsdale, Arizona. This thriving desert town offers unique charms and amenities.

Brian “Bemo” Bemisdarfer, a leading Scottsdale Real Estate Agent, says, “An uptick in house sales is underway, and Scottsdale is in a unique position to experience a boom.”

He continued, “Scottsdale has minimal land available for sale at any given time. Competition for lots has intensified for new residential construction projects. While single-family homes are hitting the market consistently, the demand continues to exceed supply. That creates a perfect formula for continued growth, for homeowners and investors.”

Nationally, bidding wars for desirable properties are escalating. Redfin’s recent report shows that more than half of all homebuyers bought after winning a bidding war during ninety days earlier this year. That’s a factor that bodes well for investors, realtors, and investors in Scottsdale, which remain in high demand.

Housing Trends in Scottsdale Are Trending up According to Local Real Estate Expert

Bemo confirms that appreciation and higher volume is impacting the local real estate market. Not only are homes selling faster, but they’re also doing so at a 17.7 percent higher price than a year earlier. With limited inventory, that’s likely to continue as people fleeing large urban areas look for a better life.

Don’t Forget The Past

The 2008 recession had a chilling effect on home builders, many of whom were reluctant to build in the last decade. They built fewer new single-family homes, cutting the supply of more contemporary homes. As demand solidifies and accelerates, new dwellings will likely sell exceptionally fast, and existing housing sales will help owners make profitable sales.

Scottsdale is well-known for its natural beauty. The combination of the desert weather, crisp mountain landscapes, and epic natural scenery make the region one of the nation’s top ten tourist destinations.

Year-round demand for short-term housing is another reason behind the Scottsdale housing boom. Many investors make significant returns by catering to this specific demographic of consumers. It offers a flexible housing solution for executives who want the privacy of a single-family home for temporary or long-term housing.

If you’re a residential real estate investor, now is the time is to add Scottsdale properties to your portfolio. You can earn an ROI (return on investment) as an income-producing asset.

Another notable home buying trend causing a Scottsdale housing boom is that millennials get older and purchase their first homes after years of saving. Many of them look for lifestyle-driven housing options that allow them to engage in activities that they love. Scottsdale is a dynamic center of activity for people who love the outdoors, golfing, hiking, cycling, great weather, and stunning views of the desert skyline.

With top restaurants, shopping, entertainment, and multiple college campuses, there is plenty of room for families of all sizes to grow. Today is the day to seize the once-in-a-lifetime opportunity to become a Scottsdale home or real estate owner.

If buying or selling your Scottsdale home is high on your list of things to do, call Brian Bemo today!