The median home price of the average single-family home in Arizona has been increasing drastically over the past several years. Since 2015, the Arizona housing market has seen the median closing sale price increase from $211,000 to an astonishing $350,000.
While many native Arizonans angrily profess to being priced out of a home in their own state, many more have attributed, vindictively, one source for this issue: their Californian neighbors.
The idea is this: In a booming housing market the only people who can afford the higher and higher prices being asked are people with high incomes moving in from out of state. In much the same way that Arizona’s changing political demographics and ever-increasing freeway traffic are associated with people from the golden state, Californians are also being attributed with the widespread bidding wars happening for mid-range Arizona homes.
While there is some truth behind the idea that Californians have made the Arizona housing market more competitive, the real causes behind the rise of housing prices in Arizona are much more nuanced than an influx of people from the lower forty-eight’s westernmost state. Read more
