Phoenix named one of the cities with the best real estate prospects in 2023

by Patrick Regan

Phoenix ranks among the 10 American cities with the best overall real estate prospects in 2023, according to the Emerging Trends in Real Estate report by PwC and Urban Land Institute. 

The 44th edition of the in-depth forecast report examined 80 cities to determine trends in the real estate industry for 2023.

Phoenix placed No. 9 on the overall best prospects list. The city was grouped in the Super Sun Belt category, described as among the fastest-growing markets in the U.S. with “solid” economic performance and recovery. 

Phoenix was No. 13 on the report’s list of cities with the best homebuilding prospects.

“Reinforced in this year’s Emerging Trends is the dominance of magnet markets, many of which are in warmer Sun Belt regions,” PwC reported. “They top the Emerging Trends Markets to Watch standings, while the number of markets in cold-weather climates in the Northeast and Midwest decline in ranking.”

According to the report, the 20 cities with overall best real estate prospects in 2023 are:

  1. Nashville 
  2. Dallas/Fort Worth 
  3. Atlanta 
  4. Austin 
  5. Tampa/St. Petersburg 
  6. Raleigh/Durham 
  7. Miami 
  8. Boston 
  9. Phoenix 
  10. Charlotte 
  11. San Diego 
  12. San Antonio 
  13. Orlando 
  14. Houston 
  15. Northern New Jersey 
  16. Denver 
  17. Seattle 
  18. Washington, D.C./Northern Virginia 
  19. Salt Lake City 
  20. Los Angeles

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