With such unrest worldwide foreign investment in the Hot US Real Estate market is proving to be a safe option and Arizona is a natural fit. With Arizona’s diverse economy leading the way in Aerospace, High-tech, Retail, and Manufacturing Arizona is proving to be the right place at the right time.
California has slipped from the place to be and is seeing record migration out of the state and Arizona, a neighboring state is benefiting from Californias misfortune with people and businesses calling Arizona their new home.
The Phoenix Arizona housing market is on track for the best year ever with home sales up 9 percent from 2016. Phoenix’s median home price is up 6.5 percent for the year, a more-than-steady increase.
With baby-boomers on the move and Californian’s leaving at a record pace, we see the Arizona Real Estate market on fire and racing to a supply and demand issue. This is the time when research and data play a vital role for savvy investors seeking real estate options. The window is closing due to lack of supply with new builds lacking the pace to keep up. We just must look a little harder, dig a little deeper but there are still outstanding opportunities in the current Arizona real estate market. I see the window is still open especially in residential homes in the “Buy and Hold” market. With a shortage of rental units, I like “Buy and Hold” for 3-5 years as a nice income property with promising returns at the end of the investment cycle.
Eli Tanner – MRG Real Estate Research Team
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