The Phoenix Metro Area – which includes Chandler, Gilbert, Mesa, Scottsdale, Tempe, Ahwatukee, and of course, Phoenix itself – has turned into an investor’s ideal market. Many homes in the market have been purchased by investors all across the world as they took advantage of low housing prices brought in the wake of the housing bubble.
Investors are also not seeing too much rental property inventory in the market either – demand for rentals has increased about 7% over the past two years. Demand is expected to remain somewhat constant for the remainder of the year.
Our economy has also started to see some growth – over the past year; the economy has grown over 2% which is a welcome reprieve for many. Housing prices are also increasing due to shrunken resale inventory levels and are over 5% higher than they were.
While the increases are great for the market and will lead to higher cash flows and resale values, it also suggests that investors need to move quickly to capitalize on these homes before they’re gone. The McKinley Group has worked with many investors and understands the importance of finding a great home to add to your investment portfolio. Whether you’re looking to start investing in real estate or are an experienced real estate investor with several properties already, we have the expertise to help you with your decision. Our full service property management department will also take away the frustrations of marketing, tenant screening, property inspections, & maintenance items so you can sit back and reap the benefits of your investment!