Taking a look into 2021, the market for Arizona is looking rather good. According to Realtor.com, it is expected that the Valley will increase in sales by 11.4% compared to last year, marking it as higher than the national average. This increase in sales is likely related to the great weather, the many activities nearby, the excellent education options, and the reasonable cost of living. Double all that with many people now being able to work from home, many are loving Arizona as an option for their next home.
With many choosing to make the move, it is likely the high demand will result in a low inventory of houses with a higher price tag, a great thing for sellers. In addition, it has become much more likely for buyers to seal the deal without visiting a home first this year. With covid-19 still around, many are opting to rely on photos, videos, and virtual home tours as a way to search for their new home. This makes it easier for buyers to start a contract within hours of visiting their potential homes, further marking a low inventory for the Arizona area.
2021 marks a time as well where young Gen-Z buyers are choosing to move out early, the majority of Millenials are now in their 30s, and the older Millenials are looking at the trade-up market. All of this will contribute to a strong housing market for 2021.