The beautiful town of Scottsdale is the fifth largest city in the state of Arizona. Scottsdale is famous for its golf courses and resorts. Apart from this, Scottsdale also has a large number of art galleries, indoor and outdoor theatres, parks, museums, athletic fields, open arenas, grand prix field, polo fields and a center for arts. Quite natural then that many people consider Scottsdale as an ideal place for living and settling down. As a result, Scottsdale has witnessed of recent a booming real estate market. Even though it has a desert terrain, Scottsdale with its warm climate has one of the best living conditions in the state of Arizona.According to a recent survey, many people relocate to Scottsdale as it ranks high in the list of cities where Americans prefer to invest in real estate property. Consequently, there is a large demand for properties to accommodate the increasing number of new residents every year. Scottsdale is growing fast especially in the northern regions of the city.Housing communities in Scottsdale are well planned. Houses are constructed with the most modern designs and usually have beautiful mountains as a backdrop. The luxury homes in the north Scottsdale area provide some of the best resort and retirement options.Although real estate continues to be a booming business in Scottsdale, many real estate professionals have been indicating that it has been showing signs of slowing down of recent. It has been seen that the growth of profits in real estate are not as large as they used to be a few months back. However, this doesn’t mean that there is a drastic fall in the prices; just that the increase in prices of real estate is slow as compared to the previous years. A seller in such a market condition is advised to price the property at a reasonable rate. The only visible fall out of the sluggish trend is that the construction of new homes has seen a parallel decline. With the slight fall in potential profit margins, people tend to prefer renting than owning property of their own. In spite of this, property tax still accounts for a large part of the tax money being collected in Scottsdale.