Real estate investing phoenix is on the upswing. A new forecast has cited Phoenix as the hottest housing market in the United States. Realtor.com is saying that the Phoenix area will grow by leaps and bounds in 2017. House values are expected to climb nearly six percent by then. Home sales are predicted to shoot up more than seven percent. Maricopa County, which includes all Phoenix and its surrounding communities, has just under 253,000 homes owned by real estate investors.
House prices across all Arizona markets fluctuated sharply in the boom and bust; but afterwards prices in Phoenix went through a burst of speculation in foreclosed properties. Experts expect Phoenix prices to be up at least twenty-five percent over the next three years, which investors shouldn’t wait to buy there. The Phoenix housing market has been stable and consistent all year with a wide range of buyers, including baby boomers coming back from the housing crash and people moving here from out of state.
Despite rising real estate values and a smaller single-family home supply, there are still excellent real estate investing Phoenix opportunities in Phoenix. However, investors should be improve their properties with high-quality renovations to maximize the long-term value of their investments. Investors are encouraged to encouraged to buy and renovate multiple houses simultaneously, creating economies of scale that allow for completed renovations at a lower cost.