Phoenix area a top relocation destination
I have mentioned before about one of the most common questions I hear. "How's the market?" It's inevitably the first question I get when I say I am a Realtor. Like most questions like this, the answer really depends on what is important to you. Sort of like what or where should I buy? Well, let's talk a little further and see what makes the most sense for you.
Today's info is a bit like that. If you are considering selling, it's great news. If you are looking to buy, it's not bad news, but just be aware you are not alone. That's not a secret, but a recent analysis of U.S. Census data Bloomberg provides insight on how many people, on an average day, are moving to the Greater Phoenix area.
Bloomberg reports that 200 people arrive in the Valley of the Sun on a daily basis, based on data from 2017-2018. This figure includes domestic and international migration. Phoenix itself is the fastest growing city in the US with over 25,000 new residents. The Greater Phoenix area also saw the highest domestic migration numbers during the same period with 62,000 new arrivals.
Last year, Maricopa County (home to the Phoenix metro area) was the fastest growing county in the US, and Arizona was the fourth fastest growing state. The city of Phoenix is ranked #2 since the 2000 Census for growth, adding more than 200,000 residents since then.
So, back to the how's the market question. All these numbers mean there is continued demand for housing. Good news for sellers! Buyers just need to be aware of the fact that we still are experiencing relatively low inventory, and increasing pricing due to this supply/demand situation.
Whether you are buying or selling, feel free to contact me for more information on the market in your area. These new arrival numbers are important, but real estate is local and I will be happy to provide the information you need!
If you you want to buy, but aren't quite ready, we should talk. There may be a way for you to get into the neighborhood you want NOW!
Adam Tarr PC
Mav Realty AZ