Phoenix Housing Market Continuing To Climb

Dated: June 11 2015

Views: 798

Phoenix Real Estate

New data released from Arizona State University this week shows that the real estate market in Phoenix is continuing to climb.  A combination of low supply and rising demand is pushing housing prices up, and although the summer heat traditionally has pushed our market into a lull, experts are predicting a stronger than usual sales cycle in 2015.


Millennials are starting to pay more attention to real estate and the number of Buyers in their lower 30's and late 20's is climbing.  Additionally, the number of boomerang buyers (those that had a short sale or foreclosure but have repaired their credit enough to get a new home loan) are increasing as well.  This is expected to increase through 2015 and really infiltrate the market in 2016 and 2017.  Both of these demographics have helped the Phoenix rental market boom over the last few years, but as more time passes and those renters turn into Buyers, the expected rise in demand could quickly push our home values much higher.  When there is a low supply of homes for sale, which we have now, even a slight increase in demand can do incredible things for a housing market.


If you are on the fence about Buying or Selling your Phoenix home this year, click the picture below and take a look at current pricing (or click HERE).  It's always worth looking into prices ahead of time to know what situation you are getting into or if a home purchase is affordable for you at this time.  Need to discuss your finances with a lender?  Click the "Finance" link at the top or click HERE to quickly get information regarding a preapproval for a home loan.

Searching Phoenix Homes For Sale


Blog author image

Eric Tont

With a degree in Integrated Systems Engineering from The Ohio State University, Eric Tont has been able to apply an analytical mindset towards his real estate career. His ability to review neighborho....

Latest Blog Posts

5 Things People Look For When Moving To Another State

5 Things People Look for When Moving to Another StateMoving to another state can be a very important decision. Whether you are moving for a new job opportunity, to be closer to a loved one, or just

Read More

Moving To Scottsdale From Another Major AZ City Costs That Are Commonly Neglected When Finding Your

Moving to Scottsdale From Another Major AZ City? Costs that Are Commonly Neglected When Finding Your New HomeBuying a home is probably the biggest purchase you will ever make. There are few

Read More

Summer Checklist Appliances To Run A Checkup On Before The Summer Heat Arrives

Summer Checklist: Appliances to Run a Checkup on Before the Summer Heat ArrivesAs a good rule of thumb, you should have some of the appliances in your home checked before the summer months get here.

Read More

Cost Calculators To Help You Budget For Your Next Home Project

Cost Calculators to Help You Budget for Your Next Home ProjectMoving to a new home or doing major renovations can be a stressful experience. If you don’t plan ahead, your important projects can

Read More