In the heart of the desert, Phoenix sits as the metropolitan oasis of business, life, and culture. As the fastest growing city in 2006, many people have been intrigued by the warm, friendly atmosphere that the city gives. Numerous employment opportunities, a growing arts and culture scene, and beautiful new home developments have made the city one of the most attractive places to call home. With a population of 4.3 million people living in the metropolitan area, Phoenix and its surrounding areas have continued to expand more and more. Major businesses moving to the area have also helped to provide numerous jobs for employees and fuel the city’s economy.

One of the most attractive features of the Phoenix, Arizona area is the warm weather and climate. People who move to Phoenix love the sunshine, warm weather, and numerous opportunities available. Recreation plays a large part in the community. Various activities ranging from horseback riding to golf are available at a stone’s throw away from the downtown area. This has made Phoenix a popular place for both vacation and retirement throughout the country. A lot of the success of the Phoenix housing market has been from an increased interest in retirees. Builders have made stunning retirement communities that have brought a lot of buyers into the Phoenix market. Read more »

Job creation from many major corporations has also helped to attract a lot of new residents to the area. Several hi-tech companies have come to Phoenix to take advantage of lower land costs and wages. Companies like Avnet, Apollo Group, and Intel employ thousands of employees in the high paying, hi-tech sector. Many other major corporations have their headquarters there including: Allied Waste, PetSmart, and Insight Enterprises. Abundant corporations have helped fuel the Phoenix economy and provide numerous jobs for residents.
As the city continues to rapidly expand, more and more attractions and opportunities are available. Numerous resort communities have been built that offer great golf courses, accommodations, and fine dining. Unique museums like the Arizona Capitol Museum, Heard Museum, and Phoenix Art Museum are very popular places of interest and attract people from all over. With so many different opportunities available, builders have had no trouble selling homes.

Sales Trends
With 17,558 new homes sold in 2008, Phoenix remains the fifth largest housing market to this day. Growth has decreased slightly from years past, making sales lower than in record years, but not at all at a level of concern. Builders have had success from focusing on retirement communities and other luxury lots. By offering higher quality, more accommodating homes, Builders have managed to find buyers that are willing to pay more for homes. Builders have enjoyed increased revenues as more and more resort style desert homes are built.

Other Key Trends
Large market shares from top builders have also helped to keep prices affordable for Phoenix residents. Some of the nation’s top builders have focused on the area and continue to gain market share; the two biggest being D.R. Horton (19.4%) and Pulte Homes (18.3%). (Information provided is available at: here).Big builders have increased resources to be able to cut down costs and offer more affordable homes. Another key trend in the Phoenix housing market has been from decreasing prices to create incentive for buyers. Builders have had a lot of success from offering lower prices on new homes in the area. Buyers are beginning to realize that it might be the only time to purchase quality new homes at such low prices.  « Close »