At least my stand on a positive growth outlook for our market is continuously reinforced by facts, facts and more facts. Last week, the 2007 SRP Economic Forecast was held at the Phoenix Convention Center and valley leaders agreed that the economic momentum was strong. Among the topics discussed, the statistics on the number of jobs created since 2002 was something that they said Arizonans should be looking at instead of focusing on a short-lived housing slow down.

Panelists included Robert N. Shelton, University of Arizona President, Stephen Happel, professor of economics at Arizona State University W.P. Carey School of Business, and Kent Ennis, an economist and the director of research at the Arizona Department of Commerce. The men said that 2007 would be a “moderate growth year.” Growth continues, but at a slower pace.

I also see companies like Capital Group, one of the world’s largest investment management firms out of Los Angeles, expanding its Phoenix operations with a new IT facility in Scottsdale. They plan on filling as many as 550 new positions in three years. The Phoenix metro area continues to see growth in other areas such as health care, life science, defense and construction sectors.

The economic indicators are still in our favor. . . .and don’t forget a major draw that is bringing people from places like Chicago, New York and Minnesota right now: the weather! I’m hearing more about how it’s too cold in the mid-west, and how we’re getting some would-be Florida relocations because we don’t have hurricanes. If Mother Nature stays good to us, I’d say that’s a huge plus for a good, strong real estate market. A large number of baby boomers are getting vacation homes and second homes. Florida is a competitor to Phoenix-Scottsdale in that area, but with all of the hurricane action in the past couple years, I’m not only seeing primary residence relocations that may have chosen Florida, I’m seeing activity for those second homes and condos as well.

Keep the faith! No fair-weather Phoenicians allowed. To read more on how Phoenix ranks third in Top Ten Job Market study, Click Here….