New Build price increases
The MLS just came out with 2020 year in review data.
Average New Build List Prices 2019 $399,200
Average New Build List Prices 2020 $442,200 up
$43,000 or 10.8%
Median New Build List Price 2019 $295,000
Median New Build List Price 2020 $329,900 up $34,900 or 11.8%
Why do I present this to you? Whether you are interested in a New Build home as a primary residence or you buy New Builds for rental investments both of you are subject to major price increases.
If you intend to buy one or more of these, NOW is the time. If you wait until next year, oops, they will be up $50,000 grand or so.
Are New Builds a good investment? Absolutely, if you look at the last 2 years, if you bought 2 years ago in early 2019, you would be up 22.6%. Obviously, hindsight is 20/20. Why should you buy NOW? Because the Californians are still leaving in droves. The California elites have proposed more crazy ideas that will force more people to leave it. Such as
1. Mandating electric cars (they can’t keep the lights on now, imagine when everyone has an electric car)
2. Leaving Cali Tax (new proposal attempts to tax you for 5-10 years after you leave Cali)
3. Raising the Income Tax higher than today’s 13.6% top bracket
4. Stopping the wall (illegal crossings will spike and so will unemployment)
I don’t offer this idea as a political analyst or for a side but simply to demonstrate policies that drive behavior.
Recommendation: as long as the Californians are being motivated to leave by California, they will. Arizona is the second most popular State to receive them. Therefore, you should be investing in Arizona.
If you need help buying or selling, check me out at www.5kflatfeelisting.com. Looking forward to working with you.
Buyers get: Sellers get:
FREE Home Inspection 5k
Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
FREE Home Warranty FREE Termite Inspection
Best,
Geoff Nowlin, Phoenix Realtor
480-466-3737
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