Phoenix is often considered a safe haven for individuals who find themselves seeking shelter from cold in other parts of the United States. Consistent, mild temperatures in the Winter months make this area the perfect refuge for sun and warmth, and over the past few years, the amount of existing 55 and older housing inventory available had been extensive.
Builders and owners of these units were finding selling problematic at times. But, with colder weather approaching and an increase in positive movement in real estate markets across the United States, that has changed. People are not only researching the availability of these units, but they are also closing contracts on them.
The units available have dwindled and now investors and builders are starting to pay attention. Property investors from all over the United States have begun purchasing senior living units and renovating them to increase rental rates. They are converting these units from closed off spaces to bright open and inviting spaces with great rooms, due in large part to the changing demands of retirees who have become accustomed to these different spaces.
While previously, builders were squeamish about building these types of units, they have started planning projects to increase the overall capacity again. Companies that specialize in these types of units like Pulte, Del Webb, and others have started large advertising campaigns to focus on gaining buyers in Colorado, Washington, Illinois, and California. This is obviously great news for the health of the Phoenix economy.
If you are interested in learning more about options currently available in the Phoenix real estate market, please feel free to contact us. It would be our pleasure to share with you all of the wonderful homes currently available.
[idx-listings linkid="214344" count="20"]