The Phoenix area has long been a center for the aerospace industry. During World War II, tens of thousands of GIs landed in the area, noting its warm weather and low prices. In addition, the area was home to many government contracts and jobs. The area's favorable business climate and good public transportation made it a popular destination for young men and their families. Today, many of these men have returned to Phoenix to raise families.
The addition of the Eisenhower Interstate Highway System has also improved accessibility for businesses and residents alike.If the housing market in Phoenix were balanced, there would be an excess supply of homes available for sale. However, if the current supply of homes exceeds the demand, the market could turn into a buyer's market. Although demand is high, Phoenix has a persistent imbalance in supply and demand.
While the market may have a short term spike, it will eventually return to a healthy level. It will also continue to rise in value as Millennials move out of rental units and into homes with families.A major resurgence of downtown Phoenix began in the 1970s, and the area's construction activity increased significantly.
The city also began splitting the city into urban villages, known as "village cores" according to the Phoenix Concept 2000 plan. This practice further shaped Phoenix's free market development culture. The original nine villages have now expanded to fifteen. With its freeways, Phoenix has become a city of many nodes. It is possible to live in the heart of Phoenix or just one of the neighborhoods.Public transportation in Phoenix is good, with a light rail system and a bus system.
It also features a 4.6 mile bike lane, which makes it easy to commute by bike. While it may seem like a huge city, the commute times are not as long as in other cities. The streets are well laid out in a grid system, making them very navigable. In addition to public transportation, the Phoenix metro area has improved its public transportation system.Rents have gone up in Phoenix, with the median listing price in Phoenix being $487,000, compared to $470,000 in Denver.
The median price of a home in Phoenix is $470,000, while properties in Arcadia and Central City South are listed for over $1.6 million. The median rental price of a home in these neighborhoods is $665/month, and in La Mancha, a single-family home can cost over $2,500 a month.In addition to the grand Canyon, there are many other attractions in and around the Phoenix area.
The city is a central hub to other attractions in the state, including the Petrified Forest, Grand Canyon, and Lowell Observatory in Flagstaff. If you like the desert and live in a city, Phoenix may be the perfect place for you. For those who love the outdoors, there are plenty of hiking and mountain biking trails nearby.