Business Experts Identify Arizona As Prime Market For Property Management
By Space Coast Daily // October 18, 2018
Are you a property owner in Arizona? Or do you plan to invest in Arizona’s property management market? You might be doing the right thing, because, experts are debating the fact that Arizona might be the best market for property management.
Property management market deals with a lot of experiments. Inflation and deflation alter the property management markets directly. With today’s unstable economic state of the world, it’s hard to determine the stable state of the industry.
After a downfall, Arizona real estate market is experiencing a strong recovery. It seems like Arizona’s property management market deserved the attention of property investors. Real estate investors within the Arizona talk about the potential of the market. It continues the growth as the investors from neighboring states are coming to evaluate Arizona’s property management possibilities.
Arizona is showing its potential in the property management market. 2017 was one of the best years for the home building industry. According to research conducted by Belfiore Real Estate Consulting, Arizona’s real estate market had a big burst in sales, due to boosted home sales, prices, and real estate agent activities.
You might’ve come across the news and articles on Arizona’s real estate market is a place to invest in 2018. Judging by the rise of real estate agent numbers, we can see the interest in the property management market is rising. Since January 2018, 45,326 licensed real estate agents were active in Arizona. In addition, 12, 128 brokers are active. In total, with 57, 454 active licenses, there’s a 4.4% increase since 2017.
With the rise of active licenses, a growth in AZ property management companies won’t stay unnoticed. There’s obviously a pattern of interest arising in Arizona’s real estate market. First the investors, then the agents and brokers, now we have property management companies growing. 2018 is a good year for Arizona’s property management market indeed.
Why is the market growing?
• It was a positive year
Experts say that market health caused market growth. By saying, it was a positive year, we mean that more people got licensed. So, 2017 provided a comfortable situation for 2018’s real estate market.
• Sales move forward
Since 2016, sales have grown by 11%. As usual, sales drop down in December, due to holidays. But at the end of 2016, sales near holidays increased by 10%.
• Millennials are on their way
One of the reasons sales have increased is that Millennials are reaching their financial maturity. A large wave of millennials have just recently entered the housing market. They are increasing sales and the first-buyer percentage.
Looking at it now, experts say that 2018 will be a blast for new home buyers. Builders are working to develop the infrastructure. They are purchasing new land. They are working on developing urban areas and offering something new to the buyer. It seems like 2018 will be a healthy and steady year. No expert is predicting dramatic changes, just a steady growth and healthy situation in the industry.
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