Submitted by: Joel Teo

Arizona, the Grand Canyon State, is probably one of the hottest real estate markets in the United States. The market is even more prolific in the city of Phoenix and in areas surrounding it. Arizona real estate has appreciated on a consistent basis over the past few years and there seem to no visible factors that could hinder its continued increase. Prices for all housing types have moved steadily upwards be it single-family homes, condominiums, duplexes or business properties.

Cities like Phoenix, Scottsdale, Gilbert and Chandler continue to be highly favored locations in Arizona. These regions have experienced real estate appreciation from a low of around 10 percent to a high of around 50 percent. The reason behind such appreciation is the steady demand for Arizona real estate, which in turn is owing to the following major factors:-

Arizona has experienced a large scale business boom. Many major organizations have relocated in Arizona, since the state offers scads of highly trained personnel. In essence, Arizona provides the perfect milieu for businesses to flourish.

Arizona real estate has always been the preferred choice of retirees and snowbirds. People residing in the northern regions often tend to vacation in Arizona, in order to escape the harsh winter weather. This is because Arizona has warm climatic conditions, low cost of living, and excellent sporting and recreational avenues.

Arizona boasts of quality school districts, which are regarded as some of the best in the country. The renowned Arizona State University in Flagstaff also has a constant influx of students, who eventually look for a dwelling around that area.

Despite the constant appreciation in the Arizona real estate market, properties in the state can still be bought at reasonable prices. People from other states, where real estate prices have gone sky high, are flocking to Arizona in search for a low cost dwelling.

Seeing the constant Arizona real estate appreciation, investors tend to get anxious about the possibility of an imminent slump. But the fact is that as long as Arizona offers favorable conditions for businesses to thrive and for people to relocate in Arizona, there is simply no stopping this upward trend in Arizona real estate.

Copyright 2007 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author’s information with live links only.)

About the Author: Joel Teo writes on various financial topics including

Investment Properties in Las Vegas

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Investment Properties in Las Vegas

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