1. The price is right. Although overall median prices have risen, most of that increase is at the low end, and not in higher priced areas such as Scottsdale or Paradise Valley.
2. It’s cheaper to buy than rent in the Phoenix metro area, and in nearly every other Valley of the Sun city too.
3. Inventories are shrinking. Good homes under $250,000 are scarce in most metro Phoenix cities. And the number of new homes being built is increasing, but are way below that of a normal market.
4. Mortgage rates are still low historically, and won’t stay that way forever.