Phoenix hot housing market
Phoenix was ranked number 7 of the top 100 U.S. housing markets in a new report from real estate website Trulia. Of the 100 largest U.S. metropolitan areas, Trulia identified the top-ranking based on the following five key metrics:
- Job growth over the past year, as a measure of a robust economy.
- Vacancy rates, as an indicator that housing supply does not exceed demand.
- Good starter-home affordability, as a signal that first-time home buyers stand a chance at buying a home.
- More inbound than outbound home searches on Trulia, as a gauge that more people are interested in that market than those looking to leave.
- A large share of the adult population under the age of 35, which represents more potential first-time buyers.
Trulia also identified the “hottest” neighborhood in each housing market.
The Agritopia neighborhood in Gilbert was identified as the ”hottest” neighborhood in the Phoenix area. The Agritopia neighborhood is located within the boundaries of East Ray Road, South Higley Road and the Loop 202.
A July, 2018 report from Zillow found that home values in Phoenix rose 7.7 percent in the last year, with a median home value of $256,000.
Gentry Real Estate Group’s Buy Low AZ team has been providing property bidding services in Arizona’s Maricopa, Pinal, and Yavapai Counties for almost a decade. Our professional staff has the experience and knowledge of the residential Arizona market to effectively represent your investment while guaranteeing you the best price possible.
Phoenix top 10 housing market