PHOENIX—Once a poster child for the foreclosure crisis, Phoenix’s housing market is booming again, boosted by robust population growth and relative affordability.
Phoenix was a hot market before the pandemic, and it has been a major beneficiary of new remote-work policies, as workers in expensive citiesEven as home prices in Phoenix soar, housing in the area is still cheap compared with many other big cities in the West. The Phoenix-area median existing-home price was $399,900 in June, up 31.1% from a year earlier, according to the Arizona Regional Multiple Listing Service. That’s more than $100,000 below the median home prices in San Francisco, Los Angeles, Seattle, Portland, Ore., and Denver.
“When people come here from Seattle and Portland, they are thrilled at what they can buy,” said Alan Jones, division president for home builder Lennar Corp. “And from California, they go beyond being thrilled.”
tsorg76 Lol its going to be a 130 degrees down there due to Global Warming
Cheaper housing, maybe....but water will be scarce and expensive and the heat will get worse every year.
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I wonder if anyone knows the states are embeseling the 1st cares act money. Shutting down assistance to silanced the lamb
Good for them. Bad for those people from there that neee to move for whatever reason.
they will be spending lots on AC -
So cheap housing is on the rise.Well if buyer'spurchase...then neighborhood inequality starts all over again.
'Phoenix is a hot market before the pandemic it has major beneficiaries policies.' Sponsored by United Health, Pzifer and Johnson & Johnson
Californians are moving to Phoenix. Phoenix housing costs are no longer considered cheap!
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Work from home...live where you like how you like. Productivity innovation not shackled by place.
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