By Audrey Jensen | Phoenix Business Journal
Despite a precipitous drop from last year’s ranking, Phoenix is still among the top 10 real estate markets in the U.S. as it experiences challenges in housing affordability and infrastructure constraints, according to the Urban Land Institute’s latest Emerging Trends in Real Estate report.
This has led to a slowdown of recent in-migration in the region, similar to other Sun Belt markets that previously saw increased migration following the Covid-19 pandemic.