Geoff Nowlin’s predictions
for 2021. Well, the covid year is over and here are the actual results: 2019 in
the Phoenix MLS, there were 99,325 sales. 2020 in the Phoenix MLS sold 105,278.
These figures include only and all improved property, not land. This includes single family homes, condos, mobile homes and manufactured homes.
That’s a 6% increase from the year prior. Why? I believe its part of the great California exodus. Californians are coming to Phoenix in droves. They are sick of the lock downs, sick of the taxation, sick of the anti-business climate, sick of the rolling black outs, sick of the fires, sick of the earthquakes, sick of the traffic, sick of the Franchise Tax Board and probably sick of the politics.
So welcome to Phoenix, come on in the water is warm. What we are seeing in Phoenix, the new builders are running lotteries again. They are delivering new builds in 9-12 months because they cannot hire enough men to finish the homes. New Builders are pushing prices up $1,000 to $2,000 per month. They cannot find enough ground to build.
There is a crane on every corner of downtown Phoenix, of Scottsdale and on the ASU Campus. Drive around town and all you see is “HIRING” signs. Look on indeed.com and there are literally thousands of jobs available right now right here in Phoenix. This economy is so hot that businesses are growing.
People often ask me, what about the coming real estate crash? I don’t see any sign of a down turn. I remember when Ronnie Reagan, Tip O’Neill and Howard Baker (Economic Recovery Act of 1981) lowered the tax rates from 70% to 50% top bracket and 14% to 11% lower bracket and we had a 20-year boom.
Well Trump, Ryan and Mitchell (Tax Cuts and Jobs Act of 2017) lowered our corporate taxes from 38% to 21%. As long as that holds, I predict we will also experience a 20-year boom.
I believe that real estate follows the jobs. As long as we have jobs, we will have a strong real estate market. Enjoy 2021!
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
nowlin.geoff@gmail.com
