Scottsdale’s real estate market is being shaped less by local buyers and more by an influx of affluent out-of-state buyers purchasing second homes. According to Kevin Weil, Associate at RE/MAX Excalibur, second-home buyers are providing critical price support, even as other signs point to a slowing market. While many observers focus on primary residence demand and local economic factors, Weil says vacation and secondary property purchases are the primary drivers of Scottsdale’s market today.
“A lot more people are buying second homes in Scottsdale, which is keeping prices up,” Weil says. The wave of second-home buying reflects a national trend....
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