When The Arizona Republic reported in May 2017 that new-home sales in Phoenix were up 22% and that rising prices were not far behind, they could not have realized just how prophetic their words would be.
Now in October, Trulia, an online real estate insights resource, notes that market trends across Phoenix have swung up by 5% for median home over 2017. At the same time, rents have also increased by 5% according to the Phoenix Business Journal – a reflection of the declining number of available properties up for rent in the Phoenix metro area.
“There’s absolutely no question that the real estate market in Phoenix is buoyant right now – and that’s a trend that I expect to continue for the next two years,” said Scott Burke, CEO of a local home improvement and real estate firm, Flip ‘N’ Krazy.
“Phoenix is also a growing city; in 2016, over 93,000 people chose our great city to live in – that’s a 2.1 year-on-year increase, triple the growth rate of the average city in the United States. This growth is the key behind the real estate boom and increasing home and rental prices. This isn’t going to stop; my advice to all is that is cheaper to buy a home than to rent – this way, you own your own slice of Phoenix real estate and can enjoy the benefits of the boom when – if! – you should move away.”
The statistics reveal all that people need to know – and Burke, along with many other experts and market watchers are confident that prices will continue to soar through to 2020. For now, Phoenix is very much a buyer’s market.
For more information about Flip ‘N’ Krazy and, please visit http://www.flipnkrazy.com. For media inquiries, please contact Scott Burke at 480-719-8082 or email at firstname.lastname@example.org
About Flip ‘N’ Krazy
Flip ‘N’ Krazy’s is a home improvement and real estate investment firm with a mission to buy, renovate, and sell houses, beautifying communities with affordable, chic, and modern homes at fair and affordable prices. It works with its sister company, Devil Dog Development to complete projects in a timely and professional manner. For more information, please visit Flip ‘N’ Krazy’s website.
Phoenix Business Journal:
Arizona Republic: http://www.azcentral.com/story/money/real-estate/catherine-reagor/2017/05/28/catherine-reagor-new-home-sales-phoenix-jump-highest-pace-since-housing-crash-prices-rising-too/337163001/
Company Name: Flip ‘N’ Krazy
Contact Person: Scott Burke
Email: Send Email
Address:14700 N. Frank Lloyd Wright Blvd Suite 157 PMB 245
State: AZ 85260
Country: United States