The Valley’s population grew by 24 percent or 787,306 people from April 2000 to July 2006.
That population growth is a big reason why Phoenix real estate will be one of the first to rebound… that is, if Arizona homebuilders can keep their hammers in their holsters long enough to get their inventory into line.
4 responses so far ↓
1 Ken44 // Apr 5, 2007 at 6:37 pm
Housing permits up 26% in Feb. http://www.azcentral.com/arizonarepublic/business/articles/0328biz-housing28.html
2 Badgerbacker // Apr 6, 2007 at 11:19 pm
just got back from phoenix. I was absolutely stunned by the amount of new homes being built in Queen Creek area. So much for slowing down. Not good for resellers…
3 Ken44 // Apr 7, 2007 at 1:51 am
I’m not sure how much the build-out will affect the resale of homes closer in. Why buy in Queen’s Creek when there are plenty of homes on the market much closer to Phx.
4 John L. Wake - Realtor // Apr 7, 2007 at 10:27 am
I was in the town of Queen Creek yesterday and there is still a ton of construction going on. I’m sure it’s less than earlier but I don’t have a number.
Why Queen Creek? It’s cheaper.
Most, but not all, people would prefer to live closer in, but if you want a 3,000+ square foot, newer home for under $400,000, you gotta drive.
That’s the trade off that many people make.
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