At Sandbox Development Consultants, we make it our business to stay current on everything going on in our local real estate marketing. Studying the numbers, reading the reports, and networking with the major players in Phoenix real estate is something we do on a regular basis.
11th Annual AZ DealMakers Conference
On January 23, 2020 I was honored to attend the 11th annual AZ DealMakers event entitled “Innovation in Housing with Today’s Constraints.” The event was put on by the Rose Law Group and Belfiore Real Estate Consulting and was held at The Westin Kierland Resort & Spa in Scottsdale, AZ.
A Quick Event Rundown
The event agenda boasted an excellent lineup of 15 of the most influential people in local real estate. Features from the event included:
- State of the State Keynote address by Arizona’s #1 Economist, Elliott Pollack
- “One Big Thing” 10-minute summary from two dynamic leaders
- Housing Super Panel moderated by Jordan Rose provided straight talk on where the industry is headed
- “The Affordability Conundrum- Seeking Solutions” mini-panel moderated by Mark Stapp
- Arizona Housing Market Overview from Jim Belfiore
There were some other incredible speakers including Jerry Coleman, founder of Offerpad, Don Murphy, Division President of Shea Homes, and Brett M. Johnson, co-founder of Fortuitous Partners. Elliot Pollack gave a funny and dynamic speech, explaining to us that we are in the longest business cycle expansion in U. S. History. Topics discussed included technology, the economy, and what we can expect for the Arizona real estate market going forward.
Our Takeaway From The Event
The housing market is very robust, without any signs of slowing down. Millennials are starting to buy and will continue to fuel the demand of new homes for the foreseeable future. Despite common belief, millennials are buying in the suburbs. Also, the latest data suggest that a recession will NOT occur in 2020. According to Jim Belfiore, we’re in the most dynamic period for homebuilding that we’ve seen in over a decade.
What To Look For Going Forward
After hearing from the event’s great speakers, here are a few things you can expect for the Phoenix area real estate market in the upcoming year!
- You can expect new home appreciation to be somewhere between 6% and 8% in 2020.
- The tight labor market and rising cost of materials will continue to drive up the cost of new homes.
- Phoenix is still the most affordable major housing market in the Western United States, however, we will need to keep our eye on affordability over time.
Over all, this was an exceptional event for anyone in the housing industry. With a record number of people attending this year, we can’t wait to see what’s on the horizon for the next AZ Dealmakers event. Jim Belfiore, Elliot Pollack, and all of the speakers at this year’s conference did a remarkable job presenting critical information in an approachable, straightforward, and well laid-out manner.
To learn more about how we can be of assistance with your next real estate project in the Phoenix area, don’t be afraid to reach out!