{"id":12931,"date":"2021-08-24T13:04:42","date_gmt":"2021-08-24T20:04:42","guid":{"rendered":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/?p=12931"},"modified":"2021-08-24T13:07:05","modified_gmt":"2021-08-24T20:07:05","slug":"phoenix-leads-nation-in-rent-growth-while-home-value-increases-report","status":"publish","type":"post","link":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/in-house-news\/phoenix-leads-nation-in-rent-growth-while-home-value-increases-report","title":{"rendered":"Phoenix Leads Nation in Rent Growth While Home Value Increases, Report"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Rent growth and home value increases are buzzing in Phoenix.<\/p>\n\n\n\n

According to Zillow’s July real estate market report<\/a>, Phoenix leads the country in annual rent growth at 23.1%, and clocks in second in home value growth with 29.8%, after Austin, Texas rings in at 41.5%.<\/p>\n\n\n\n

Fast-appreciating rents have continued on a strong trajectory and pushed beyond where they were projected to have been irregardless of the pandemic, according to the report. <\/p>\n\n\n\n

And while U.S. home value appreciation again broke records in July, there are signs of a re-balancing in the for-sale market to come, with inventory rising for the third consecutive month and home value appreciation slowing in almost half of the nation\u2019s largest markets indicating signs of a market cooldown.<\/p>\n\n\n\n

Key Phoenix Housing Market Stats<\/span><\/h4>\n\n\n\n

\u2022 Inventory is up 1.6% from June, but still down 18.8% compared to last July<\/p>\n\n\n\n

\u2022 Typical home values are $390,733, up 3.4% month over month and up 29.8% year over year<\/p>\n\n\n\n

\u2022 Typical rents are $1,746, up 23.1% year over year<\/p>\n\n\n\n

\u2022 The share of listings with a price cut was 10% in July, up 2.1% from June<\/p>\n\n\n\n

Read the full report here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"A strong rental market and home value appreciation are buzzing in Phoenix.\n","protected":false},"author":13,"featured_media":12942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[5135,2273,2499,1663,4791,5133,5134],"class_list":{"0":"post-12931","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-in-house-news","8":"tag-phoenix-home-value","9":"tag-phoenix-real-estate","10":"tag-phoenix-rentals","11":"tag-real-estate","12":"tag-real-estate-news","13":"tag-rent-trends","14":"tag-rentals","15":"cs-entry","16":"cs-video-wrap"},"yoast_head":"\nPhoenix Leads Nation in Rent Growth While Home Value Increases, 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