Anyone who’s lived or done business in the Phoenix, AZ, area knows that the housing market here has been extremely volatile. Phoenix has been on a roller-coaster ride since 2010, when the housing bubble popped. Rather than crashing prices, however, something a little different happened instead.
A Quick Overview Of Today’s Phoenix Housing Market
In 2011, Phoenix was hit with some of the worst foreclosure rates in the nation, resulting in a glut of homes on the market. Investors came in, buying up the houses for cheap… at least at first. However, demand and interest from the investors continued to boom, and the result was a new price spike in Arizona home prices.
As a result, the Phoenix area housing market is still slow, despite the housing market recovery going on in other areas. The glut of banks and home-flippers buying up the foreclosed homes ended up backfiring: Prices for homes are still nearly as high as they were before the bubble popped, and fewer houses have been for sale until very recently.
So what do you do if you’re looking to move into the Phoenix area, whether it’s for work, or school, or just to have a great community to raise a family?
Phoenix rental homes! Despite – or perhaps because of – the sale market being down, home rentals have risen 81% over pre-bubble rental rates.
The New Boom Of Phoenix Rental Homes
It’s not hard to see why home-renting is attractive for Phoenix residents. It avoids the hassle of buying land, as well as the uncertainty attached to housing investments these days. In a volatile market, fewer families seem willing to make the sort of commitment that home ownership entails.
After all, far too many people have gotten burned on real estate in the last few years. A lot of buyers are gun-shy, and with good reason.
A rental home, however, brings the best of both worlds: A wonderful home in a quiet, friendly community, without the huge investment -and stress- that goes along with home ownership. In a depressed job market, with families frequently moving in search of work, renting makes plenty of sense.
We Rent Homes AZ has plenty of rental properties available, including all the amenities – garage, fireplace, loads of bedrooms, and even potentially swimming pools and other relaxing features.
If you’re looking to move to the Phoenix area, contact us today for information on availability!
Some of the rental homes in Phoenix have also installed emergency light. This emergency light is very powerful, consistent and energy efficient. This light has become very popular now a days and is very useful.