PHOENIX – According to the 2022 Emerging Trends in Real Estate Report by the Urban Land Institute and PwC US, Phoenix was named one of the top metropolitan areas for real estate prospects in 2022.
Phoenix took third place nationwide, behind Nashville and Raleigh / Durham. Rank was calculated taking into account overall growth, housing construction, affordability, and job prospects. The 2022 ranking was the first time in more than a decade that Phoenix landed in the top 10 prospective real estate prospects.
Phoenix has been described as a “magnet” market, attracting both people and businesses faster than the US average in terms of population and jobs. Magnetic markets were also the preferred markets for investors and home builders based on the rankings given for the report. Phoenix, Charlotte and Nashville were among the top magnet cities.
Phoenix ranked third overall in housing outlook, after Raleigh / Durham and Tampa / St. Petersburg.
Phoenix and other Super Sun Belt markets, including Dallas and Atlanta, were among the fastest growing markets in all subcategories.
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