Phoenix 13th largest metro area in U.S.

by John Wake on April 7, 2007

Over 4 million people in metro Phoenix.

biggest us cities

arizona metro populations

{ 7 comments… read them below or add one }

1

Ken44 04.07.07 at 5:27 pm

Well, the Phx. metro inventory is exploding again. New record high.

It will be interesting to see how much a growing population can soften the current housing crisis as inventory goes thru the roof and sales flat in at the 2002 levels.

2

Badgerbacker 04.07.07 at 6:55 pm

Housing Crisis??? Welcome to America. If the Starbucks closes down the street, that’s also considered a crisis. Great selection, low interest rates, full employement. That’s a crisis???????

3

Ken44 04.07.07 at 7:14 pm

Yep, it could easily be a disaster for those in the Phx metro forced to sell at a major loss. But the question remains how many sellers are actually financially up against the wall.

Sure prices are down in most areas but over-all but I wouldn`t say a crash… yet.

4

John L. Wake - Realtor 04.07.07 at 7:21 pm

It looks like Phoenix will jump over San Francisco-Oakland, Boston and Detroit within a several years to become the 10th largest metropolitan area in the United States.

5

Badgerbacker 04.07.07 at 7:57 pm

ken44, you used “housing crisis” in your post that I responded too. Its pretty apparent how many sellers are up against “the wall”. Hardly any, or prices would be dropping….

6

Ken44 04.08.07 at 12:04 am

–Hardly any, or prices would be dropping….

Prices have dropped. Just not nearly as fast or as far as many housing bloggers would like. The current inventory is insane with DOM ever increasing and buyers basically still on the side-lines. Everything now seems in place for sellers feeling financially squeezed over the past year or two to being capitulating and seriously reduce prices in the coming months.

The x factor for me in the equation is the steady population growth.

7

Ken44 04.08.07 at 6:27 am

–It looks like Phoenix will jump over San Francisco-Oakland, Boston and Detroit within a several years to become the 10th largest metropolitan area in the United States.–

Yes, I think most will agree the long-term future for property owners/investors in the Phx. metro is excellent.

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