Phoenix-Mesa-Scottsdale, AZ

There are many factors influencing real estate trends in the Phoenix-Mesa-Scottsdale, AZ metropolitan statistical area (MSA). The following is a brief overview of some of the most important ones.

The population in the MSA is growing rapidly, which is increasing demand for housing. The job market is also strong, which is attracting people to the area and resulting in more people wanting to buy homes. Additionally, interest rates are still historically low, making now a good time to buy a home.

All of these factors are leading to an increase in prices for both new and existing homes in the MSA. In addition, there is currently a shortage of homes available for sale, so competition is high and bidding wars are becoming more common. As a result, it is important for buyers to be prepared with their financing in order before beginning their search for a home.