Arizona jobs projected to increase by 138,553 and Greater Phoenix jobs by 115,258. More jobs will keep the fire going for already hot housing market.

On March 9, the Arizona Office of Economic Opportunity released job projections.  Jobs in Arizona are projected to increase by 138,553 from the Second Quarter of 2016 through the Second Quarter of 2018.  The majority of the increase in jobs is expected to be in Greater Phoenix.  Jobs in Greater Phoenix are projected to increase by 115,258.  Greater Phoenix in this report is defined as Maricopa and Pinal counties.

This increase in jobs, along with a growing population, will continue to fuel the demand for residential housing.    Greater Phoenix is currently in the midst of a very hot demand for previously owned single family properties in many price ranges.

According to the Arizona Regional Multiple Listing Services, Inc., sales of previously owned single family homes in the first two months of 2017 are fourteen percent higher than for the same period last year.  The number of sales in January and February 2017 were 9,999 compared to 8,777 for the same period last year.

While sales are up inventory is down.  The number of previously owned new monthly listings in January and February 2017 were 5% or 860 less than for the same period last year.

When writing a contract, be prepared for your buyers to compete against multiple offers when a property is priced at market.

Expect prices to go up in many prices ranges.

The majority of the increase in jobs will be in Greater Phoenix 

To read the report go to

2016-2018 Projected Job Growth by Region
Area Name 2016 Estimated Total Employment Level 2018 Projected Total Employment Level Numeric Growth Annualized Percentage Growth
Arizona 2,852,181 2,990,734 138,553 2.4%
Phoenix MSA1 2,051,434 2,166,692 115,258 2.8%
Tucson MSA2 382,515 392,583 10,068 1.3%
Balance Of State3 414,363 427,176 12,813 1.5%
1) Maricopa and Pinal Counties
2) Pima County 
3) All other areas in Arizona less Maricopa, Pinal, and Pima Counties 

Arizona’s industry employment projections are produced in conjunction with the U.S. Department of Labor (U.S. DOL), Employment and Training Administration (ETA).

Fletcher R. Wilcox is V.P. of Business Development and a Real Estate Analyst at Grand Canyon Title Agency.

He is author of His market analysis on residential real estate in Greater Phoenix has been mentioned in the Wall Street Journal, Bloomberg News, MarketWatch,, National Mortgage News, Arizona Republic and the Phoenix Business Journal. He has been a guest speaker on local radio and both local and national TV.

He teaches real estate agents strategies on marketing and instructs real estate classes in residential contract writing and Arizona title procedures.  Fletcher started snowboarding in 2006. He is not very good.

Fletcher may be reached at  602.648.1230

Thanksgiving Celebration: Its History

Abraham Lincoln made the Thanksgiving Proclamation on October 3, 1863.  A purpose of the Proclamation was to unify the nation, which was in the midst of the Civil War.   Thanksgiving Day was to be the last Thursday of November. Credit for … [Continue reading]

When Is The Peak Season For New Listings And Sales? Fourth Quarter 2016 New Listings And Sales Should Be Higher than Last Year!

This is an update of an article published on July 20, 2016. This version includes third quarter 2016 new monthly listings and sales.  The information in this report is from the Arizona Regional Multiple Listing Services, Inc. Real estate agents … [Continue reading]

Anticipatory Contract Writing

Published in the Arizona REALTOR's Voice by Fletcher R. Wilcox on September 9, 2016  There are 30 blank lines at the beginning of Section 8, Lines 311-340, Additional Terms and Conditions in the AAR Residential Resale Real Estate Purchase … [Continue reading]

Most Misunderstood Parts of the AAR Residential Resale Real Estate Purchase Contract

  What You Should Know About Loan Contingency & Cure Period Notice by Fletcher R. Wilcox on July 1, 2016 VP Business Development, Grand Canyon Title Agency (This article first appeared in Arizona REALTOR® … [Continue reading]

What time of the year are there the most new listings and the most real estate sales? A review of the numbers in Greater Phoenix.

 When are Real Estate Agents the Busiest? By Fletcher R. Wilcox Grand Canyon Title Agency Real estate agents make their commissions as listing agents and as selling agents. So at what times of the year are agents the busiest listing … [Continue reading]

Report: More luxury sales in 2016 than 2015. Join me on the Biltmore Estates luxury tour this Wednesday, April 20.

The upper end of the market has had more sales so far this year than last year. According to data from the Arizona Regional Multiple Listing Services, Inc. (ARMLS) there were twenty-one more sales over $1,000,000 of previously owned single family … [Continue reading]

Maricopa County Number One in U.S. for Net Domestic Migration. This is good for Real Estate Sales.

A Report on Real Estate, Lending, Job Growth and Population Trends Maricopa County Number One in U.S. for Net Domestic Migration. This is good for Real Estate By Fletcher R. Wilcox on March 25, 2016 On March 24, the U.S. Census Bureau released … [Continue reading]

Arizona Real Estate: Why more Canadians may sell their U.S. Properties in 2016

This article was first published in the Arizona REALTOR® Voice on March 8, 2016. by Fletcher R. Wilcox on March 9, 2016 Many Canadians own residential real estate in Arizona. They are especially attracted to the desert areas of Arizona during … [Continue reading]

Phoenix Real Estate: Attend the first major real estate event of 2016! Why 2016 likely will be a better year for sales, guest speakers on closing trends and a special speaker from the CFPB!

Jim Sexton 2015 President Arizona Association of REALTORS and Fletcher R. Wilcox Grand Canyon Title invite you to attend the first major event in 2016 on residential closing trends you should know and obtain three C/E hours of contract law. We have … [Continue reading]