| Arizona Market Information | |||||||||
| Quick Facts | |||||||||
| Population - 2007 | 3,907,492 | ||||||||
| Median Age - 2006 | 33.7 | ||||||||
| Labor Force - 2007 | 2,064,300 | ► Investing Trends | |||||||
| Employment - 2007 | 1,996,700 | ||||||||
| Unemployment % - 2007 | 3.30% | ||||||||
| Median Income - 2006 | $51,862 | ||||||||
| Single Family Permits - 2007 | 36,963 | ||||||||
| Gross Metro Product (billion $) | $160.00 | ||||||||
| US Inflation Rate (CPI) - 2005 | 3.40% | ||||||||
| Source: MAG, US Census Bureau, BLS, DES and the U.S. Conference of Mayors | |||||||||
| Projected Population 2006-2014 | |||||||||
| (Thousands) | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Greater Phoenix | 3,764 | 3,879 | 3,993 | 4,106 | 4,217 | 4,328 | 4,438 | 4,548 | 4,656 |
| 1 yr % chg | 3.00% | 2.90% | 2.80% | 2.70% | 2.60% | 2.50% | 2.50% | 2.40% | |
| Arizona | 6,239 | 6,432 | 6,623 | 6,812 | 7,000 | 7,186 | 7,371 | 7,554 | 7,736 |
| 1 yr % chg | 3.10% | 3.00% | 2.90% | 2.80% | 2.70% | 2.60% | 2.50% | 2.40% | |
| United States (millions) | 298.2 | 300.9 | 303.6 | 306.3 | 308.9 | 311.6 | 314.3 | 317 | 319.7 |
| 1 yr % chg | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% | |
| Sources: U.S. Bureau of the Census, March 2004; Arizona Department of Economic Security, April 2006 | |||||||||
| Additional Projections for Arizona | |||||||||
| July 1, 2015 | July 1, 2025 | ||||||||
| 5,808,000 | 6,412,000 | ||||||||
| Source: www.census.gov | |||||||||
| Major Employers - Greater Phoenix | AZ Employment | ||||||||
| State of Arizona | 49,958 | ||||||||
| Wal-Mart Stores Inc. | 28,246 | ||||||||
| Banner Health Systems | 19,250 | ||||||||
| City of Phoenix | 13,844 | ||||||||
| Maricopa County | 13,002 | ||||||||
| Wells Fargo Company | 11,533 | ||||||||
| Arizona State University | 11,202 | ||||||||
| U.S. Postal Service | 11,000 | ||||||||
| Honeywell Aerospace | 10,700 | ||||||||
| Intel Corp. | 10,100 | ||||||||
| US Airways | 9,940 | ||||||||
| Bashas' Inc. | 9,902 | ||||||||
| Albertson's-Osco | 9,500 | ||||||||
| Safeway Inc. | 9,286 | ||||||||
| Fry's Food and Drug Stores | 9,200 | ||||||||
| Mesa Public Schools | 8,716 | ||||||||
| JP Morgan Chase & Co | 8,700 | ||||||||
| Target Corp. | 8,246 | ||||||||
| Luke Air Force Base | 8,000 | ||||||||
| Bank of America Corp. | 7,268 | ||||||||
| American Express Co. | 7,000 | ||||||||
| Apollo Group Inc. | 6,921 | ||||||||
| Pinnacle West Capital (APS) | 6,400 | ||||||||
| Walgreen Co. | 6,300 | ||||||||
| Qwest Communications Inc. | 5,500 | ||||||||
| Source: The Business Journal Book of Lists 2006 | |||||||||
| Greater Phoenix Real Estate - Housing and Sales Median Prices | |||||||||
| Single-Family | Townhouse/Condominium | ||||||||
| Median Sales Price | Resale | New | Total | Resale | New | Total | Grand Total | ||
| 1988 | $78,000 | $103,950 | $85,000 | $61,750 | $83,020 | $65,000 | $81,500 | ||
| 1989 | 78,000 | 105,850 | 85,470 | 58,870 | 72,870 | 61,200 | 81,260 | ||
| 1990 | 79,000 | 109,300 | 86,390 | 58,000 | 74,510 | 59,000 | 82,000 | ||
| 1991 | 80,000 | 107,500 | 87,600 | 56,150 | 77,300 | 57,500 | 82,600 | ||
| 1992 | 83,000 | 108,800 | 90,175 | 60,050 | 78,200 | 61,500 | 86,500 | ||
| 1993 | 84,000 | 112,500 | 92,700 | 61,400 | 79,180 | 63,500 | 88,100 | ||
| 1994 | 87,225 | 124,475 | 100,000 | 65,000 | 89,900 | 67,000 | 94,000 | ||
| 1995 | 90,500 | 127,600 | 105,100 | 67,000 | 100,250 | 70,000 | 99,600 | ||
| 1996 | 97,000 | 130,750 | 111,400 | 69,875 | 110,850 | 72,900 | 106,675 | ||
| 1997 | 105,000 | 136,130 | 116,230 | 72,500 | 116,500 | 76,000 | 111,220 | ||
| 1998 | 113,585 | 139,070 | 122,000 | 77,500 | 119,400 | 82,500 | 117,000 | ||
| 1999 | 120,000 | 146,710 | 129,900 | 81,900 | 136,070 | 86,000 | 124,900 | ||
| 2000 | 128,900 | 150,770 | 136,820 | 86,000 | 152,350 | 90,000 | 131,000 | ||
| 2001 | 136,000 | 156,560 | 142,680 | 90,500 | 163,710 | 95,000 | 137,500 | ||
| 2002 | 144,900 | 159,990 | 149,900 | 95,500 | 162,660 | 100,000 | 144,500 | ||
| 2003 | 155,000 | 173,240 | 160,000 | 103,275 | 184,700 | 109,000 | 155,000 | ||
| 2004 | 174,815 | 195,000 | 180,000 | 114,530 | 186,485 | 121,000 | 173,290 | ||
| 2005 | 240,500 | 251,795 | 245,000 | 150,000 | 214,615 | 160,000 | 235,000 | ||
| 2006 | 260,600 | 306,355 | 279,000 | 174,000 | 225,400 | 192,500 | 264,900 | ||
| 2007 | 257,000 | 283,365 | 265,655 | 179,000 | 241,880 | 198,200 | 255,000 | ||
| 2008 | 222,200 | 189,800 | |||||||
| Sources: ASU Realty Studies, National Association of Realtors | |||||||||