Trevor Halpern explains interest rates, seller trends, and smart strategies for buying or selling in today’s Phoenix housing market
I recently sat down with the team at @Fox10Phoenix to discuss the current state of the Phoenix real estate market. Since the pandemic, Phoenix has transformed from a secondary value city into a real estate market on par with other major cities across the country.
During our conversation, we discussed the “golden handcuffs” keeping sellers locked in their current homes. Many homeowners feel completely trapped by their 2-3% interest rates and refuse to purchase a new home at a 6% rate.
However, if you feel the need to move, there are some creative ways to navigate the higher rates. For example, if you use the massive equity you have built over the last few years as a larger down payment, you can effectively lower your new monthly payment and move into a property that better serves your lifestyle.
We also covered crucial tax deductions for homeowners and debunked the widespread myth that the Phoenix real estate market dies down in the summer. In reality, May, June, July, and August are actually four of our six busiest months for closings!
If you have questions about the market or are ready to make a move, you can always reach me at 602-595-4200 or find me on Instagram.