Arizona cities rank among 2023’s best real estate markets

by Emily Marek

Several cities in Arizona have been identified as some of the healthiest real estate markets of 2023, according to a new WalletHub report.

The finance analysis company compared 300 U.S. cities based on 17 metrics: home values, home-price appreciation, median days on market, share of underwater mortgages, rent-price to sale price ratio, foreclosure rates, mortgage delinquencies, vacancy rate, share of new homes, building activity, housing affordability, maintenance affordability, population growth, job growth, unemployment rates, underemployment rates and median credit score.

Gilbert ranked as the No. 10 real estate market in the country — the Phoenix-area city has the sixth-best economy of any city analyzed, as well as a strong real estate market.

Gilbert additionally ranked as the No. 6 best midsize real estate market. Other high-ranking midsize Arizona cities on the list were Peoria (No. 7), Tempe (No. 11), Chandler (No. 13), Glendale (No. 29) and Scottsdale (No. 38)

Comparing large cities, Phoenix’s real estate market ranked No. 11 while Mesa’s ranked at No. 13. Surprise also ranked as the No. 6 best small real estate market.

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