Prices in Gilbert AZ Trending Upward

Listing prices have been on an upswing in Gilbert the last few months. For almost 3 months now prices have been on a clear upward trend. In a recent analysis of the housing market, the Phoenix area came in at number 2 in a top 10 list of the largest median list price increases nationwide. There was a month-to-month increase of 4.46% and a year-over-year increase of 10.54%.  These are continuing signs that the housing market is recovering and pointing towards good signs for 2012.

The low inventory of homes in Gilbert and the reduction of foreclosures are also putting upward pressure on home prices. These are trends that Gilbert home buyers who are still sitting on the fence need to keep an eye on. Interest rates are still very much in the favor of Gilbert home buyers. Interest rates for 30 year fixed mortgages fell to a record 3.91% this week, third time this year that rates have hit new lows.

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