New Jobs Keep Phoenix Real Estate Hot

In 2005, 37 companies either expanded or moved into Arizona, taking advantage of the state’s business incentives. These companies have invested a total of $660 million throughout the state, creating 9,600 high-wage jobs.

The upswing in jobs paying an average salary of $41,500 might explain why residents have been able to continue buying Phoenix real estate throughout the year despite enormous price appreciation. Workers moving to the area to take advantage of these new job opportunities may also explain the constant and strong demand for Phoenix real estate.

“In the Phoenix area, the companies contributing to the increase were Verizon, which added 1,200 jobs in Chandler, eBay which opened a location in Phoenix… and Tomcar, which moved from Israel to Phoenix.” If these companies continue to grow or if the city keeps attracting new businesses, the Phoenix real estate market can only stand to profit.