Phoenix will be one of the top housing markets to watch in 2019, according to a report from real estate website Trulia.
The analysis, released Thursday, highlights the 10 markets poised for growth in the coming year. Phoenix ranks No. 7 on the list, just behind Fresno, California and ahead of Columbia, South Carolina. Colorado Springs, Colorado topped the rankings.
Trulia examined the 100 largest U.S. metropolitan areas, measuring each on five metrics including job growth over the past year, vacancy rates, starter home affordability and percentage of the population under age 35.
The Valley’s strong job growth — 2.9 percent — in the past year, along with starter home affordability and low vacancy rates helped the market attain its spot in the rankings. According to Trulia, residents in Phoenix spend just 33.7 percent of their income on housing, which signals strong starter home affordability in the market. The Valley also has a ratio of 1.3 of inbound vs. outbound searches on Trulia’s website. That means more people are interested in moving to the market than those searching to move away.
