Phoenix Metro 2nd Highest Employment Growth

As we’ve said before, if higher paying jobs are added to the local workforce, home values will continue to grow.  Our local Chamber of Commerce, along with the State of Arizona, meet with companies of all sizes. Their job is to show them what a great fit the Valley is for relocating or starting their businesses to increase employment growth.

Judge for yourself, but it seems that they’ve been doing it well!

“…the Phoenix area grew 4.2 percent…”

According to the Business Journal,, employment in the Phoenix area grew 4.2 percent during the 12-month period that ended Nov. 30, 2018. This is the second highest percentage of growth of any metro city nationwide.

According to CBRE research and the U.S. Bureau of Labor Statistics, the Phoenix area gained 86,800 new jobs during the period. In 2018, CBRE tracked 105 job announcements with a combined 28,000 new jobs projected to be created during the next one to three years.

Per, the Journal, the two biggest announcements of the year, each for 2,500 jobs, were from Deloitte and Allstate. Both of these centers will be located in Gilbert and Chandler. Mayo Clinic also announced it will add 2,000 new jobs and expand its north Phoenix campus. That was the was the second-largest job announcement of the year!  Read the full Phoenix Business Journal Article Here.

The connection is probably obvious, but the point is that more jobs means more people moving here. That means more people looking to buy homes.  This creates more demand and therefore good for sellers. We’ve been saying for a long time that our city needs more inventory, not more demand. Truthfully however, demand has been slipping of late.