For the 13th consecutive month, Arizona has had positive median purchase prices and rent prices go up with a 14th month trending in the same direction. The Average Median Purchase Price for a SFH is now $445,000! And it is important to mention that rent prices have broken the +$2,000/month barrier and are the highest ever in our state's history.

After the US Census released numbers, it shows that Phoenix is the #1 growth city and Mesa is #8. Arizona averaged 238 people each day moving to our beautiful state and it is not stopping. California, Washington, Oregon are the top 3 states where people are moving from.

Conforming loan limits have increased to $548,250 and 30 yr fixed rates are still hovering around 3% which will continue to drive prices up. In addition to that, big tech is moving to AZ and there is actually a man-made beach being built in Mesa, AZ!

There is a +$5 BILL investment in foundries for semi-conductor chips coming to AZ, a historic 3% income tax cut on all income levels and if you haven’t looked at our extremely low property taxes I would recommend sitting down before you look them up. I’ve been looking at $2-3 MILL homes in Paradise Valley and the annual taxes are under 10k/yr.

With all of that being said, I have shifted my focus to AZ for both real estate investing and sales. Ohio is still great, but I will only buy off market deals from my personal network. I am happy to talk shop, but overall – out of town investors are overpaying there.

During Covid, I wanted to be productive and passed all my broker exams which I am proud to say and amazing looking back during my time here in AZ. As the stock market remains volatile, I will always remain bullish on real estate – specifically AZ!

If you have any questions on AZ Real Estate please feel free to reach out or drop a comment below.

Arizona Real Estate is still Hotter than the Weather!

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