How is The Phoenix Real Estate Market 2019?
If you are looking at investing in the Phoenix real estate as a potential investment opportunity, you must read till the end. The Phoenix real estate market was a headline in the news a decade ago when the housing crisis of 2007 and 2008 caused home values here to fall by as much as half. The slow recovery of the national housing market has taken a decade. Many may be surprised to hear that the Phoenix housing market is back on the recommended list for investors.
The national economy is super strong and the number of people moving into Phoenix is finally strong again after tanking during the Great Recession. If you are an investor, Phoenix real estate has a track record of being one of the best long term investments in the nation. Based on the last twelve months, short-term real estate investors in Phoenix have found good returns on their investments. Phoenix real estate appreciation rates in the latest quarter were at 1.36%, which equates to an annual appreciation rate of 5.56%.
Phoenix remains the biggest city of Arizona and the state’s capital. However, Phoenix itself is massive. It is the only state capital with more than a million people. It is the fifth largest city in the country. The Phoenix housing market, though, is much larger than Phoenix – it encompasses the entire Valley of the Sun, Phoenix’s sprawling suburbs that are home to another five million people. That makes the Phoenix metro area the twelfth largest in the country.
There are a number of other reasons to consider investing in the Phoenix real estate. Is Phoenix going to be one of the hottest real estate markets for investors in 2019? To answer this question, let’s take a look at the latest Phoenix housing market trends and find out the prospects of investing in Phoenix real estate in 2019.