By Kristena Hansen | Phoenix Business Journal
High-performing schools and neighborhood amenities no longer are the key drivers of residential property values in the U.S. The mantra of the post-recession housing market is “location, location, location” — namely, urban atmospheres with easy access to public transportation.
Phoenix and four other metro areas — Chicago, Boston, Minneapolis-St. Paul and San Francisco — were the subjects of a study released last week that showed residential properties in high-density, walkable areas near public transit and employment centers held their values as much as 41.6 percent better than the larger regions during the housing boom-and-bust cycle between 2006 and 2011. That doesn’t mean those areas didn’t lose value in the crash, but not as far as the regions as a whole.
Also: Midtown Phoenix struggles with office vacancies
If you’d like to discuss real estate matters, contact RLG founder Jordan Rose, jrose@roselawgroup.com
