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January market update

Monthly market titbits:

  • Maricopa county Arizona is gaining 277 people a day, Arizona 355 a day in population growth.
  • Sale prices are predicted to increase 14.2% in 2019-2020 the fastest rate in seven years.
  • Despite rising home prices, new sales in December continued to rise as record low mortgage rates drove demand.
  • The Fed voted to keep rates unchanged into 2023.
  • The GDP for 2020 declined 3.5%, worst since WWII. However, the fourth quarter 2020 grew at 4% fueled by consumer spending.
  • FHA will permit DACA (Deferred Action for Childhood Arrivals) individuals to become eligible for FHA mortgages provided they have status to work in the U.S.

Robin Walton

Verdes Lifestyle Team HomeSmart Lifestyles 12625 N Saguaro Blvd. #116 Fountain Hills, AZ 85268

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