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The Phoenix skyline.

Phoenix is among the top three emerging markets in the real estate industry, according to a new analysis.

The Urban Land Institute’s Emerging Trends in Real Estate 2022 report lists only Nashville and the Raleigh-Durham area ahead of Phoenix; the ranking is based on factors including job prospects, growth and the outlook for homebuilding.

The report also looks at some general trends in real estate for the new year; among them: a stronger-than-expected rebound for the industry, a need for less office space and a renewed focus on affordable housing.

To discuss the report's findings, The Show spoke with Anita Kramer, senior vice president at the Urban Land Institute Center for Real Estate Economics and Capital Markets.

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