An Arizona Land Sale: Harder to Come By In Downtown Phoenix

With a population explosion occurring and expected to continue, land in downtown Phoenix is at a premium. Several factors added together have created a surge in population, home sales, retail property and a limited supply of available land.

Arizona Housing on the Rise

In the last few years Phoenix has seen an unsurpassed growth, such growth in fact, that the population has slid past Atlanta and become the country’s top new home market. Predictions raise the population of the state by more than 150,000 in 2005, this will indeed affect Phoenix as well as other big cities in the state.

Phoenix Commercial Growth

Along with the population growth, more jobs are being created, further boosting the economy. In kind, demand for office and industrial real estate will also rise as the population and economy flourish. With all of this growth, it makes one wonder if there will be enough land to go around.

Arizona Land Availability

On the surface Arizona appears open with wide expanses of available land but this is not necessarily the case. Indian reservations take up a lot of this space, along with Federal and State owned property. This creates a situation where very little land is actually privately owned. Of the remaining land, thought must be given to the flood plains, washes, and zoning restrictions. When you narrow the prospective area even further, to say, Phoenix, your chances of finding land in this booming economy become increasingly slim.

Arizona Land Sale: An Investment

In the past few years investors have turned away from the stock market and put their funds into real estate instead. The dynamic growth of Phoenix has made it an extremely attractive investment for buyers from all over the country, but especially the West Coast. Private investors will continue to find Phoenix attractive but rising interest rates and limited availability may bring competition to an all time high. This may be the last opportunity to snag some land in the Phoenix region and the casual land buyer may already be out of luck.