Are you worried 😰 about a housing market slow down or potential bubble? 🏠📉 I get it... prices seem high, but there are some factors that show this could be a sustainable market in 🌵Maricopa County for some time.
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❗️AZ ranked #4 for fastest growing states last year. But Maricopa County ranked #1 in the country. Over 200 people are moving to the Phoenix-area per day!!!
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Last year there were 17,351 new home construction🏗 permits, compared to the increase of population by 81,244 people. The builders are not keeping up with the housing demand.
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So you make ask... is it sustainable?
✅ AZ ranked #4 in GDP growth
✅ AZ ranked #2 for Personal Income Growth
✅ AZ has the highest minimum wage in the country when adjusted for cost of living.
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Final food for thought💭
📈During the housing boom of the mid 2000's, the year over year price increase was a staggering 40%!!!! The year over year increases over the past 3 years have been: 6%, 9%, 6%. Making this a much healthier 🏠market.
Housing Market Bubble???
