I recently found a couple of great article written by realtor.com and bizjournals.com . In the realtor.com 2017 housing forecast, they name what they perceive to be the best real estate markets in the nation, They name Phoenix as they will be the number one market in the coming year out of 100 local metro areas…… See the link below for the complete article..but to summarize, realtor.com looked at many of the metrics that point to a strong market in phoenix and Tucson area.
The article sites a strong local economy, low unemployment rates and strong population and job growth as the contributing factors as to why Phoenix is expected to see an overall sales growth of 7.2 percent and a price increase of almost 6 percent. With affordable housing (median home price $300,000) this also attracts retiring baby boomers and first home Millennials which will be a strong driving force in the years ahead.
There’s also good news for Phoenix’s southern neighbor Tucson. The real estate group ranks it as the ninth best housing market in 2017 with an expected 6.1 percent jump in prices and 5.5 percent gain in sales.
We are bullish on Phoenix & Tucson and how a strong housing market will be good for the overall local economy which will be good for apartment investing as well.
If you have questions about partnering with us in purchasing apartments in one of these dynamic emerging markets, Please feel free to give us a call to discuss 510-863-1447