Phoenix-Mesa-Scottsdale, Arizona Is 24th Fastest Growing US Housing Market!
In a review by 24/7 Wall Street of the largest and smallest single-family home price changes in median home price over the year through the second quarter of 2018, Phoenix-Mesa-Scottsdale, Arizona ranked 24th among the 25 fastest growing housing markets in the country.
Phoenix-Mesa-Scottsdale, Arizona posted a 10% median home sale price change over a 12 month-period based on 2017 and 2018 Q2 median home sale prices of $247,300 and $272,000, respectively.
The resulting demand from Americans migrating from large, urban areas in the Northeast to suburban, mid-size cities in the South and West Coast is seen as the largest factor to the housing price growth, with 19 of the 25 fastest growing housing markets located in the South and West regions. Notably, demand also tends to favor stronger economies with a healthy job market and a growing population.
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