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Certain misconceptions need to be addressed if youre considering buying a home in Arizona in 2025.
These are the biggest myths aboutbuying a home in Arizona in 2025, debunked by the experts.
Whats the reality?
The influx of individuals moving from California has only been growing.
The increased demand will only make thecurrent housing shortageworse.
This means home prices are more likely to rise than drop in 2025.
Theres a misconception that homebuilding will increase the amount of homeowners across the state in 2025.
The reality is that despite aggressive homebuilding, they cant keep up with the growing demand, Stinson explained.
Large investment firmsare now funding new developments to build many homes to rent, not sell.
Those who have been waiting on the sidelines for mortgage rates to decrease will become more active.
As competition for homes increases, the prices will likely shoot up.
As rates are expected to decline in 2025, pent-up demand from sidelined buyers will likely flood the market.
While it might have been true historically, snowbirds no longer drive the Arizona housing market, Stinson explained.
The largest segment of homebuyers are families, many of whom are moving from out of state.
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