I glanced over the article and wonder if these fast-selling (outlying) new communities in the PHX area will lift ALL boats (new and old) in PHX.
Are buyers just flocking to the *new* because it is there? Many major cities aren’t allowing any building right now, ran out of land for subdivisions long ago or it doesn’t make sense, financially, for builders to enter a particular urban market.
I DO feel buyers flock to the *new,* no matter WHERE it’s located. ESPECIALLY younger buyers.
It will be interesting to see how this latest “building boom” affects home values in the entire residential RE market in PHX.
