Metro
Phoenix is one of the U.S.'s "10 hottest housing markets to watch in
2015," according to a new Realtor.com report.
The real
estate website's chief economist, Jonathan Smoke, said Phoenix's potential for
income growth and new-home construction landed it on the list.
"Phoenix
consistently hammers home market growth through new construction. The sprawling
desert city continues to see an increase in overall population and household
growth. Household growth is anticipated to increase by 7 percent over the next
five years," according to Smoke's report.
Smoke's
comment about the Valley's new-home market will surprise some because the
region's homebuilding market has yet to recover from the crash. The latest data
from Phoenix-based RL Brown Reports shows homebuilding is down 15
percent from last year's slower-than-expected pace.
Smoke's
list is made up of cities he expects will see the strongest housing growth,
affordable prices and fast-paced sales.
Realtor.com doesn't rank its top 10 cities.
The rest of the areas expected to see the most housing growth in 2015,
alphabetically: Atlanta, Dallas, Des Moines, Denver, Houston, Los Angeles,
Minneapolis, San Jose and Washington, D.C.
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Catherine Reagor, The Republic | azcentral.com 7:35 p.m. MST December 8, 2014
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