Cash investors drive rising housing prices in the Greater Phoenix Area

Cash investors drive rising housing prices in the Greater Phoenix Area Real estate sales are rising throughout Phoenix. Many families who are buying their own homes are being squeezed by more and more investors...

Cash Investors Drive Greater Phoenix Home Prices Real estate sales are on the rise across Phoenix. Many families who buy their own homes are being squeezed out by a growing number of investors. Investors in bankruptcies and short-term first-time homes pay cash, while ordinary buyers require a loan. Lenders are often left out. This is happening throughout the Phoenix area. The bad news is that competition to buy a home is becoming increasingly fierce, but the good news is that homeowners who have lost a lot of money are seeing home prices rising faster and faster. We say cash is king, and most sellers prefer cash buyers. Market experts say that under normal circumstances cash transactions accounted for only 10% of trading volume, but now it is 40%. Ohl, a professor at Arizona State University's School of Economics, said, "It's very frustrating. Some people have made more than ten contracts to buy houses, but none of them have been successful. The current price of houses is rising very fast, almost 1% every week, so time is very important. The houses some people buy now will be 5% more expensive next month." The hoarding period for houses under 250,000 yuan was originally 130 days on the market, but recently it was only 27 days. The inventory of houses is declining every month. Professor Orr said: "I don't know when this trend will end, but there is obviously no new housing supply." For more information about housing, please contact Goldtrust Realty Tinna 480-287-0180 Email:goldtrustrealty2010@gmail.com