Fantastic news for homeowners in Phoenix – We are now the #1 city in the country in terms of home price appreciation!
The national Case Shiller home index indicates housing price growth all over America. Phoenix, AZ has now made it to the top of their list, with an exceptional appreciation rate of 5.8%. The next best cities in America for housing appreciation?
- Las Vegas, NV, with a rate of 5.5%
- Tampa, FL, with a rate of 4.7%
- Charlotte, NC, with a rate of 4.5%
- Atlanta, GA, with a rate of 4.5%.
High Appreciation = High Profits for Homeowners
Let’s say that you purchased your home for $100,000 one year ago. With a 5.8% rate of increase on the value, you’ve now made nearly $6,000 without lifting a finger.
Of course, many buyers are purchasing houses with far greater value. When this rate is applied to a $300,00 home, the property will produce a $17,400 profit within one year!
For those of you who are wary of housing bubbles like we saw in 2008-09: The average appreciation rate for a single-family home in America is 3-3.5%. A 5.8% rate is excellent, but it doesn’t indicate a potential bubble in pricing. Instead, its evidence of a fast, sustainable rate of growth.
Consider Buying a Home in Phoenix
If you want to get in on this action – and practically make money in your sleep – it’s not too late to buy a home in Phoenix. We’re continuing to see steady growth that’s making homeowners a nice profit.
Give us a call at 480-378-6700 to schedule a free, no-obligation consultation.