Phoenix has become a hot market once again. However, it is not just investors who are buying up properties these days, owner/occupant buyers are also fueling sales in this market.

Housing supply is shrinking as the demand grows, while the number of building permits issued has increased, according to the Director of the Center for Real Estate Theory and Practice, Michael Orr. Listings are not staying on the market long, in fact, many homes under $250,000 are only on the market for a few days at most. It’s believed that “boomerang” buyers are primarily responsible for the increased demand in the entry to mid-level homes in the $200,000 price range, as they have worked to repair their credit to qualify to buy a home again.

Arizona is also a hot market for international buyers looking to buy property in the United States, and is an especially popular destination for Canadians seeking warmer winter destinations and retirement communities.  To learn more about advertising your listings to a network of international websites, click here.

ListHub is available to brokers and agents in the Phoenix market through our partnership with Arizona Regional MLS. Check out ListHub’s 30 day snapshot below to see the Arizona Regional MLS stats from July:

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