Phoenix's range of activities are attractive to young buyers
Arizona’s capital and largest city, Phoenix, has an estimated 4.2 million residents partly due to the large university campus within the metro area and the abundance of sports in the area. Real estate in Phoenix is on the rise and is setting the pace for major buying trends for the rest of the nation, according to CBS News.
Not only do fifteen major league baseball teams participate in spring training in Phoenix, but the Arizona Cardinals, Phoenix Suns, Arizona Diamondbacks and Phoenix Coyotes are also all based in the city.
"We're finding that millennials look at buying homes differently than baby boomers do," real estate expert Julie Reynolds told The Orange County Register. "Where baby boomers look at homes more as investments, millennials see housing as more of a lifestyle option. More millennials are living closer to where they work, closer to the central part of towns and focus on cultural activities and other things to do other than just work."
Named as one of the top five cities for Generation Y to live, Phoenix is picking up the pace on building more homes to buy and the area’s housing prices are still fairly low, making the city that much more attractive.