Market Update for Maricopa County: I’m excited to say the Monthly sales are up +47.1% month-over-month. The year-over-year comparison shows an increase of +6.5%.
I would like to share a quotation from Sean Becketti, Chief Econ-omist at Freddie Mac, referring to his outlook for the national housing market in 2016:Â
Housing markets are poised for their best year in a decade. In our lat-est forecast, total home sales, housing starts, and house prices will reach their highest levels since 2006. Low mortgage rates, robust job growth and a gradual increase in housing supply will help drive hous-ing markets forward. Low levels of inventory for-sale and for-rent and declining housing affordability will be major challenges, but on bal-ance the nation’s housing markets should sustain their momentum from 2015 into 2016 and 2017.