Pinal County Housing Market

If you are sitting on the fence waiting for the right time to buy your first home in Pinal County, Arizona, here is some food for thought.

The Pinal County housing market for resales from 2006 to 2007 showed a decline of nearly 7.3%, while its median home price as of the fourth quarter 2007 was just $174,000 (compared to $238,500 in that of neighboring Maricopa County) keeping Pinal County an afforable place to live.

Wondering how large a home you get for that median price? The median square footage of a resale home in Pinal County as of the last quarter of 2007 was 1,735. Combine that with interest rates still hovering near historical lows, down payment assistance/interest rate reduction programs, and home buying still looks very attractive.

By using a mortgage calculator, like the one on this blog, you might discover that the monthly mortgage payment from buying a home in Pinal County would not be much more (if at all) than the cost of renting a home of similar size and age, especially when you consider the potential tax benefits of homeownership (you would want to consult your tax advisor about this).

Obviously, only you can decide whether it is the right time to buy a home for you and your family, taking into consideration other factors as well.