Rates Again Fall to Record Low; Phoenix One of Top Markets for Millennials

The National Association of Realtors recently identified the top 10 metropolitan areas with the most favorable conditions for millennial homebuyers during the COVID-19 pandemic. The study analyzed several factors, including housing affordability, local employment conditions during the pandemic, the number of millennials in the individual metro areas, and the availability of housing inventory.

The top 10 markets listed alphabetically are: Austin-Round Rock, Texas; Dallas-Fort Worth-Arlington, Texas; Des Moines-West Des Moines, Iowa; Durham-Chapel Hill-Raleigh, North Carolina; Houston-the Woodlands, Texas; Indianapolis-Carmel-Anderson, Indiana; Omaha, Nebraska/Council Bluffs, Iowa; Phoenix-Mesa-Scottsdale, Arizona; Portland, Oregon/Vancouver, Washington; and Salt Lake City, Utah.

The housing market remains strong and mortgage rates likely will remain low.

Narin Seera, vice president of capital markets operations at Academy Mortgage, says: “While the U.S. housing market remains strong for new and existing home sales, the promise from the Federal Reserve to maintain the current low rates through 2022 provides further impetus to the U.S. real estate market and the sector financing it.”

For more information about Academy Mortgage — your FIRST CHOICE home-loan lender — contact us by calling 480-221-9826 or emailing Dawn.Svoboda@AcademyMortgage.com

Dawn Svoboda
Branch Manager Producing
NMLS 177235 | LO State Lic: AZ LO-0913936 | Corp State Lic: AZ #BK-0904081
Corp NMLS 3113
Equal Housing Lender
442 W Kortsen Rd, Ste104, Casa Grande, AZ 85122