Skyrocketing home values in the Phoenix-Mesa-Scottsdale metro area have increased homeowner’s wealth by 118% in the past 5 years. In fact, Phoenix saw the 2nd most significant percentage increase in wealth from homeownership in the country. Over this period, homeowners in the area saw an average wealth gain of $256,600.
A new report by our team at MyEListing, a real estate marketplace, highlights the cities with the most significant wealth gains from home ownership over the last five years.
Here are the primary data points for Phoenix-Mesa-Scottsdale, AZ:
- Median Home Sales Price in 2022: $474,500;
- 5-Year Housing Wealth Gains (Since 2017): $256,600;
- % Change in Housing Wealth Gains: 117.8%;
- % Change Home Price Appreciation: 99.5%;
- 5-Year Annualized Growth: 14.8%.
You can find the full report here.
The top 25 cities were ranked by the percentage increase in housing wealth gains over the past 5 years. Additional data in the table at the bottom of the page includes the median home sales price in 2022, 5-year annualized home price growth, the dollar amount of 5-year housing wealth gains, and the annualized growth rate.