Why Have So Many People Been Moving To Phoenix?
Phoenix is the 5th-largest city in the United States and is the capital of the state of Arizona. This sunny metro is only a four-hour drive to the Grand Canyon and is home to more Native Americans than any other state in the Union. The Heard Museum in Phoenix is a great place to learn more about Native American culture and history.
The city is in the beautiful desert of the Southwest and home to many scenic golf courses such as the Arizona Biltmore Golf Club courses, the Links Course. The city is truly a golfing mecca, with nearly 200 golf courses in the Phoenix area. For other sports enthusiasts, Phoenix boasts four professional sports teams to cheer on.
Phoenix has much more to offer than just sun and golf. Catch a ballet performance at the Orpheum Theater, take a hot air balloon ride, or go rock climbing. The city has many family-friendly activities and attractions, as well as diverse eateries, great entertainment, and dynamic nightlife. It’s no wonder so many people are proud to call Phoenix home.
One of the fastest-growing cities in the United States, Phoenix, along with the neighboring cities of Mesa, Glendale, and Scottsdale, has a relatively low cost of living and a strong economy. In the last two years, Phoenix has seen a robust housing market due to the migration of Americans to the city. But according to Redfin, house prices were down 4.6% as of January 2023, and houses for sale are staying on the market twice as long as a year ago.
The housing market in the Phoenix metro area
Depending on where you get your information, Phoenix housing market predictions are disappointing to downright glum for sellers this year. According to Houseo, average sale prices are down 2.2% in February 2023 from last February.
During the same time period, the number of Phoenix house sales dropped by over 40%, with houses lingering on the market around 70 days on average. Most attribute the shift to the possibility of a recession, high inflation, and exorbitant mortgage loan rates. The days of having multiple offers on a typical Phoenix house are over.
Some experts predict a definite buyer’s market in Phoenix this year, while a chilling report from Goldman Sachs forecasts house price declines of more than 25% in Phoenix, which are Great Recession Era levels. Either way, house prices are declining, and selling your house now may be a smart decision, before house prices bottom out.
How to sell your house in the slowing Phoenix housing market
The options to sell your house before its price declines include selling via a real estate agent, selling FSBO (for sale by owner), or selling to a cash home buyer. Selling the traditional way or FSBO requires available cash for home repairs and improvements, and a lot of time and work.
In the current, uncertain Phoenix housing market, time is not on your side. Furthermore, inflation has made home improvements particularly expensive. Selling to a reputable investor just makes good sense. Of the companies that buy houses for cash, We Buy Ugly Houses® is considered by many to be the best.
Don’t trust just any cash home buyer, as there are many scammers out there. If you decide to sell your house to one of the companies that buy houses for cash, be sure to do a lot of research and read reviews. Check with the Better Business Bureau for complaints. We Buy Ugly Houses has an A+ rating with the national BBB. If you sell to us, there is no need to make repairs or updates. We buy houses “as is,” which saves you time and money. We don’t charge commissions, either.
If you want to sell your house fast, trust We Buy Ugly Houses®.
We Buy Ugly Houses is America’s #1 home buyer, and our satisfied sellers have lots of good things to say about us. During our decades of service, we have bought over 140,000 houses across the nation and helped many people out of difficult and urgent situations. We can help you, too.
Just give us a call to set up a free, no-obligation consultation with us. One of our local property specialists will meet you at your house, answer all your questions, and do a walkthrough of your property. We can frequently give you a fair cash offer the very same day. If you accept our offer, we can often close in as little as three weeks.
Give us a call today at 866-200-6475 to get a head start on selling your Phoenix house before its value declines.