Phoenix Metro Area Housing Market Continues to Improve.
As cited in the Wall Street Journal the "Rise in Phoenix Housing Shows Path for Other Cities"
Surprisingly Phoenix is having a broad turnaround in the housing market as noted by Real-estate economists across the country. They are studying the Phoenix Real Estate Market to see what they can gleam from it to aid in other areas of recovery. The housing market's low prices brought new buyers and investors into the market. Phoenix also has very low inventory which is driving up the prices and igniting demand from first-time buyers and investors that are finding an easy way to make money off of rental properties. With prices below replacement costs they have found a great avenue for investing as the Phoenix Metro Area Housing Market Continues to Improve. The local economy is definitely on the upswing and big employers like Intel and Amazon, among others, are hiring again. Which is contributing to an increasing demand for housing as new employees are moving to the area, and local buyers are gaining the confidence from the stability created by new jobs.
The area is also benefiting from a large number of international investors from all over the world. Canadian investors are swarming here to pick up properties while benefiting from the favorable exchange rate to pick up great bargains here in the valley. We have had numerous international investors that are entering into the market as new investors as they see this as a great opportunity to make some money from rentals and future appreciation. As the Phoenix Metro Area Housing Market Continues to Improve so does the amount of buyers entering the housing market.
It looks like 2012 is going to be the turning point for our market and an extremely good year to invest in Real Estate, whether for your personal residence, or to star,t or add to, your Real Estate Investment portfolio.
If you are in the market to buy or sell Real Estate in the Metro Phoenix Area, give us a call, we would love to help.