Another noteworthy real estate trend is the growing appeal of community amenities. In Metro Phoenix over the last decade, demand for homes with access to community playgrounds and pools, for example, measured by the percentage of all closings, has approximately quadrupled and doubled, respectively. Lifestyles and priorities are changing to favor experience, freedom from maintenance, social opportunities, and pooled financial resources through professionally managed homeowner associations.
The home itself offers a private retreat, whether it’s a small condo or sprawling mansion, but the landscapes outside the walls are changing. Master planned communities with strategically placed parks, tennis courts, gardens, coffee shops, and gyms are thriving and matching the way many busy residents of all ages and backgrounds want to live, work, and play.