Is it still a mobile home buyer’s market today in Phoenix? As experts in the Phoenix mobile home market, we get asked this question a lot.
The answer isn’t as simple as yes or no.
The State of the Mobile Home Market for Buyers in Phoenix Arizona
First off, it really depends on the mobile home type and location.
Manufactured homes in great locations that are priced well have been flying off the shelves. There’s a lot of demand in the market for certain areas, while others can seem like ghost towns
Mobile Home buyers are often looking for the same thing – good neighborhoods, access to transportation, shopping, good schools, close to work, etc. Properties that deliver all these are definitely a hot commodity. Sellers with a highly desirable property are in control of the market.
Investment mobile homes are in demand. The massive amounts of foreign cash flooding in to invest in US mobile home market have impacted the Phoenix market in unique ways.
Overall, those people in a position to pay cash for mobile homes have been picking up the good deals in the marketplace.
Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.
Financing is still a major obstacle for mobile home buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow, although it’s getting better than it was just a couple of years ago.
Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.
Sound confusing? It is. But We Can Help.
There’s a lot of shakeup in the US economy still taking place, and the markets are moving fast in lots of directions at once.
We’re investing in Phoenix because we believe in the community and the people here.
If you need to sell a mobile home near Phoenix, we can help you.
We buy mobile homes like yours from people who need to sell fast.