ARIZONA NEWS

Survey projects Phoenix to be top 10 real estate market after pandemic

Dec 14, 2020, 1:28 PM

(Facebook Photo/City of Phoenix, AZ USA)...

(Facebook Photo/City of Phoenix, AZ USA)

(Facebook Photo/City of Phoenix, AZ USA)

PHOENIX — A group of economic experts has projected Phoenix to be a top 10 real estate market following the coronavirus pandemic.

A survey of about 20 experts released Thursday concluded that Phoenix is likely to be a leading real estate market because of its influx of residents from other West Coast metros and a high rate of those who typically work from home.

The survey from the National Association of Realtors also used factors such as unemployment rate and net domestic migration to determine the top markets.

“Some markets have been performing exceptionally well throughout the pandemic and they’ll likely carry that momentum well into 2021 and beyond because of strong in-migration of new residents, faster local job market recoveries and environments conducive to work-from-home arrangements and other factors,” Lawrence Yun, NAR chief economist and senior vice president of research, said in a press release.

Phoenix ranked as the top metro area for movers from other West Coast cities, which boosted its standing.

About 29,000 people moved from West Coast metros to Phoenix in 2018, according to the survey.

Arizona’s work-from-home rate of 7.9% in 2019 — before the pandemic hit — was also among the highest in the nation.

“Areas that are already attractive destinations to purchase a home, especially among movers from more expensive West Coast cities, may attract more technology workers, many of whom are from organizations with very flexible, and in some cases permanent, work-from-home policies,” the survey determined.

Other top 10 projected markets included Dallas, Atlanta and Provo, Utah. The markets weren’t ranked in any particular order.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

A sign in front of a building identifies Valleywise Behavioral Health Center – Maryvale in Phoeni...

Kevin Stone

Valleywise Health replenishing mental health care capacity after staffing setback

Valleywise Health is working to replenish its mental health care capacity after cutting back because of staffing shortages in 2022.

14 minutes ago

Split image of a Spin e-scooter on the left and the boundary map for Phoenix's Shared Micromobility...

Kevin Stone

Phoenix pilot program allows e-scooter, e-bike and bicycle rentals 24 hours a day

Phoenix is expanding its Shared Micromobility Program on a trial basis, allowing e-bike, e-scooter and bicycle riders to rent and roll all night.

1 hour ago

File photo of a Phoenix police cruiser at a crime scene behind yellow tape...

KTAR.com

Driver of vehicle leaving scene of shooting dies after fiery collision in Phoenix

The driver of a car speeding away from the scene of a shooting in west Phoenix died after a fiery collision Thursday afternoon.

2 hours ago

Former Arizona State Sen. Tony Navarette was convicted of one count of sexual conduct with a minor ...

ABC15 Arizona

Former Arizona Sen. Tony Navarette convicted of sexual conduct with a minor

Former Arizona State Sen. Tony Navarette has been convicted of one count of sexual conduct with a minor.

4 hours ago

Caution tape at a crime screen and mugshot of a murder suspect...

KTAR.com

Police seek aid in finding Phoenix road rage suspect accused of killing 8-year-old girl

Authorities are asking the public for help in locating a suspect accused of killing an 8-year-old girl during a Phoenix road rage in 2022.

5 hours ago

Machinery used to smooth out fresh pavement on an Arizona highway...

KTAR.com

Parts of US 60, I-10 restricted in Valley this weekend for ongoing improvement projects

Improvement projects in east Mesa and along the I-10 Broadway Curve will create several freeway restrictions this weekend.

6 hours ago

Sponsored Articles

...

DISC Desert Institute for Spine Care

Sciatica pain is treatable but surgery may be required

Sciatica pain is one of the most common ailments a person can face, and if not taken seriously, it could become one of the most harmful.

...

Collins Comfort Masters

Here’s 1 way to ensure your family is drinking safe water

Water is maybe one of the most important resources in our lives, and especially if you have kids, you want them to have access to safe water.

...

Day & Night Air Conditioning, Heating and Plumbing

Valley residents should be mindful of plumbing ahead of holidays

With Halloween in the rear-view and more holidays coming up, Day & Night recommends that Valley residents prepare accordingly.

Survey projects Phoenix to be top 10 real estate market after pandemic