ARIZONA NEWS

Phoenix among list of top 10 projected housing markets in 2021

Dec 21, 2020, 4:15 AM | Updated: 11:11 am
Arizona Center (Facebook Photo/Downtown Phoenix, AZ)...
Arizona Center (Facebook Photo/Downtown Phoenix, AZ)
(Facebook Photo/Downtown Phoenix, AZ)

PHOENIX — Phoenix was projected to have the sixth-best housing market in 2021 with an influx of retirees and millennials flocking to the dry desert heat of Arizona’s capital.

According to Realtor.com, the state’s cost of living and vast selection of golf courses are two factors that have driven the city’s growth and popularity and will continue to do so in 2021.

“In response, builders have launched a herculean effort to put up new housing to meet that demand,” Author Clare Trapasso said.

She also cited premier cultural amenities such as shopping and dining destinations that have attracted folks to the state, along with a bullish economy.

“It has a fair share of tech jobs and attracts more younger people than most people realize,” Realtor.com Chief Economist Danielle Hale said.

According to the article, home sales increased by 11.4% in 2020 and are expected to increase by 7% in price in 2021.

The median home price in Phoenix was listed at $412,260.

According to the article, Sacramento earned the top spot in the rankings and was one of four cities from California to make the list. Seattle, Boise and Denver were other notable west coast cities that were listed.

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Phoenix among list of top 10 projected housing markets in 2021