Owners and buyers of Desert Ridge homes may begin to see some changes in their selling and buying environments respectively when dealing with Desert Ridge real estate.
For the second consecutive week and the first time since early March 2013, we are witnessing a rise in the average 30 year fixed rate mortgage which on May 16, 2013 hit 3.51%, the same as it was last February 28, 2013.
So how will this affect individuals and families wanting to sell Desert Ridge homes or buy Desert Ridge homes? Tough to say for sure but with higher mortgage rates may come a slow down in buying which could mean more Desert Ridge homes on the market for longer periods of time which is exactly what buyers of Desert Ridge property would like to see.
Freddie Mac Weekly Primary Mortgage Market Survey® (PMMS®)
With higher rates and more inventory, Desert Ridge home sellers may take a hit in their sales prices so if you own Desert Ridge property and you have been thinking of selling, you may want to contact our professional team of inVIVO realty Arizona realtors and have a statistical analysis done on your home and the Desert Ridge home values around you.