Arizona & Maricopa County (Greater Phoenix) had considerable demand for housing and some of the best numbers in the country for population and personal income growth when the coronavirus storm hit.
According to the U.S. Census Bureau, out of all counties in the United States, Maricopa County had the largest numeric population increase from 2010 to 2019. Maricopa County increased by 668,049 people. Juxtapose this population increase with Cook County, Illinois. Since 2010 Cook County’s population declined by 44,793.
People want our sun and lifestyle!
When it comes to personal income, the U.S. Bureau of Economic Analysis reported that from 2018 to 2019 the average personal income of Arizonians increased by 5.9%. This was the third highest increase among all 50 states. Colorado finished first at 6.1% and Utah at 6.0%. The average personal income growth for all fifty states was 4.4%.
Once the Coronavirus storm is past the housing market in Arizona and Maricopa County should boom once again!
Fletcher R. Wilcox is V.P. of Business Development and a Real Estate Analyst Grand Canyon Title.
Grand Canyon Title is a subsidiary of Fidelity National Financial (FNF).
Fletcher is on the Board of Directors of the Scottsdale Association of REALTORS® (SAAR). He started an Influencer Marketing series for real estate agents at SAAR. He is V.P. of Networking for the Arizona Mortgage Lenders Association. He is a member of the Arizona State Escrow Association and in March 2020 taught a three hour contract class to escrow officers.
Fletcher is the founder of The Wilcox Report. His market analysis on residential real estate in Greater Phoenix has been mentioned in publications such as the Wall Street Journal, MarketWatch, Bloomberg News, HousingWire.com, National Mortgage News, the Arizona Republic and the Phoenix Business Journal. He has been a guest speaker on both local and national TV and radio. He served on one of the three Arizona Association of REALTORS® subcommittees which made recommendations for changes to the 2017 AAR Residential Resale Real Estate Purchase Contract. Fletcher may be reached at mailto:fwilcox@gcta.com and 602.648.1230
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