Inventory levels remain low in the Valley of the Sun not only for homes for sale but for homes for rent too. The lack of homes available for rent is causing rental rates to soar, surpassing what mortgage payments would be for the purchase of a comparable home. The small increase in mortgage interest rates that we have experienced so far this year isn't having a huge impact on consumption at the moment. The market is HOT!
Scared of buying but the rental prices are starting to scare you more? Call or text Katie at 480.250.0023 to discuss current market conditions and how they affect you.