Home sellers can take heart. Despite the fervent wishes of buyers, home prices are ticking up during this coronavirus crisis—instead of down. In a surprise, the median home list price rose 1.6% annually in the week ending April 25 compared with the same week a year ago, according to the most recent national data from realtor.com® looking at the 99 largest metropolitan areas.
Real estate experts have been predicting that price growth would level off or even dip, as prices had been up only 0.3% year over year in the previous week and just 0.8% in the week prior to that. That was a stark contrast to just a few months ago, when prices were rising by more than 4% annually before the coronavirus pandemic essentially put the U.S. on lockdown.
Meanwhile, residential sales in the Lake Havasu-Kingman-Bullhead City markets continue to be very strong, and the builders are all busy.
Land sales in Yucca have been very strong this year, and at this pace it will be the best year in many. Summer will tell the tale, but it seems that everyone suddenly needs more space these days. We have plenty of sunshine and wide open vistas to accommodate you all!
They aren’t making any more of the land though, so get your piece while it’s the most affordable in the last 25 years. – Ben