Businesses move to Arizona – Real Estate Outlook Robust for +7yrs

[Jared Smith]

Welcome to Mesa, Arizona – Facebook!

The new Facebook Data Center will create 100 jobs, invest $800 million into the state, 450 megawatts of new, renewable energy projects, 200 million gallons of water a year will be restored and 60% less water usage than the average data center.

KORE Power will be the first lithium-ion battery manufacturing facility wholly owned by a US Company is coming to Buckeye, AZ.

Arizona is the #3 state in the nation for job recovery per AZ Office of Economic Opportunity.

Arizona is in the TOP 10 states for economic momentum per state policy reports, 2020. Arizona’s economy is diversified across high-tech industries, and with a simplified tax system, booming employment growth and surging population at an average of 238 people every day, the state is nationally recognized as one of the best places for business.

Taylor Morrison (a client of mine) has enough land to build for the next seven 7 years. They do limited releases for 6 lots per month for premium lots, then next month they increase prices on less desirable lots until they are sold out. The model home will be sold last with all of the staging furniture that you cannot buy retail, so it comes with a hefty price tag of 1.5x compared others in the same HOA Community.

It is still a seller's market at 1.1 months inventory for entry level housing which is characterized by under the average median price for SFH's at $445,000.

Do not let the last housing market crash scar you from investing now. All economic indicators are showing a bright future for Arizona Real Estate which is why I have focused all of my attention here compared to Ohio.

If you have any questions on AZ REI or any insight please leave a comment below!

Happy Friday – Jared