A recent article from J. P. Morgan’s Real Estate Outlook entitled, Luxury home prices expected to climb higher reinforces speculation luxury homes prices will rise this year. They site 6 key trends to support their expectation.
- Accelerating GDP growth marks the beginning of a new business cycle in the United States
- Higher equity prices have disproportionately benefited high-income households
- High-income households are more confident about the U.S. recovery
- A limited supply of trophy properties for sale intensifies demand and pushes up prices
- Overseas buyers view U.S. real estate as a safe haven asset
- Home valuations are fair and benefit from the low interest rate environment
Welcome to 17530 N. 100th Way! This is a beautifully appointed home located at the premier guard gated community of Windgate Ranch. It will be held open Sunday, March 23 from 1:00 P.M to 4:00 P.M. If you need additional information for this property or other homes in Windgate Ranch, please don’t hesitate to contact me at 602.616.4829 or email me at [email protected].
The National Association of Realtors (NAR) reports sales of luxury homes is increasing. The median national average price of homes over $500,000 is up 7% from last year. The hottest markets include Phoenix, Seattle, Miami, Los Angeles and Denver.
According to Trulia’s Winter 2014 Rent vs. Buy Report, homeownership is cheaper than renting in all of the 100 largest metropolitan areas including the Phoenix Metropolitan Area where buying is 33% cheaper than renting.