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Facts about Arizona and the Home Market:
- In 1980, Arizona had 2,718,215 people. At the end of 2003, Arizona had an estimated 5,710,000 people. By 2020, Arizona is expected to be nearing 8.5 million people.
- In In Maricopa County, the median resale home price has increased from $65,000 in 1981 to $155,00 in 2003. New homes have increased from $74,800 to $174,235.
- The median household income in Arizona has increased from $16,450 in 1979 to $40,460 in 2003.
- Arizona had 1.1 million wage and salary jobs in 1980. At the end of 2003, the state had 2.3 million jobs.
- In Maricopa County, office space has increased from 8.7 million square feet in 1980 to 56.6 million square feet in 2003.
- Suburban areas near metropolitan markets are the leading choice for homebuyers ages 55 to 74. This is the same area of building activity for new active adult communities, according to 2000 U.S. Census data by the National Association of Home Builders.