In the wake of the 2008 housing crisis, the United States real estate market shifted dramatically. Relaxed lending standards and low interest rates formed a bubble around nationwide housing markets; when it popped, a significant number of homes were foreclosed, leaving hundreds of thousands without homes and jobs.
Enter: Tempe, Arizona. This part of the country was one of the hardest-hit during the housing collapse, mainly due to housing speculation and overbuilding. Thousands of homes were construction during the housing boom, but many ended up vacant. Now, the market is beginning to normalize and young people from large, expensive cities are moving to Tempe for low housing costs.
One of the fastest-growing cities in America, Tempe has become a hotbed of real estate investment and development. In 2016, Maricopa county added over 220 residents each day. With numbers like that, you start to wonder why there are so few resources for the Tempe real estate market.
That’s where we come in. This blog is created and run by a group of local realtors, real estate investors, and long-term Tempe residents. We all have something to add to this broader conversation of the Tempe housing market. Whether you’re thinking about purchasing a home in Tempe, selling your Maricopa county vacation house, or entertaining a move out to the southeastern United States, we have the literature you need to feel prepared.