Phoenix s population is 4.9M, with a total workforce of 2.2M. The labor market grew by 68,200 jobs over the past year, up by 3.2%. The median household income in Phoenix is $66,134, 2.6% higher than last year and 4.7% above the national average of $63,179.
In the housing market, total permits issued totaled 39,804 over the last twelve months, up 30.5% year-over-year. Phoenix has 535 active new home projects on the market, 15.3% fewer than the 632 from last year. The average list price in the market is $365,555, 6.8% higher than last year and 5.7% above the national average. Over the last three months, new home contracts increased by 41.5% to 6,137. Phoenix and Buckeye had the highest concentration of the new home contracts in the Phoenix market.