The prices of U.S. homes rose 3.1% in the third quarter of 2020 compared to the second quarter, according to the Federal Housing Finance Agency. Demand grew because of the continued low mortgage rates. Recent Green Valley rates are(1):
• 30-Year Fixed - 2.763%
• 20-Year Fixed - 2.759%
• 15-Year Fixed - 2.386%
• 5/1 ARM - 2.967
In addition to home prices rising 3.1% from the second quarter to the third in 2020, they are up 7.8% over this point last year nationwide, and 9% in Green Valley.
What do all these statistics mean? It’s a great time to buy and sell in Green Valley. But don’t wait too long, because housing prices will likely continue to rise.
For more information on mortgages, interest rates and financing, contact Steve at Nation’s Lending, 520-612-0479, or stop in at 210 W. Continental Road, Suite 116A, Green Valley AZ 85622.
Corp NMLS # 32416