According to the 2020 census, the population in Phoenix was 4.85 million people. Currently, the U.S. Census Bureau estimated the population in Phoenix to surge to around 7.5 million by mid-year! We can officially say that it is one of the fastest growing metro areas in the country. Ranked the 11th largest metro area (Wikipedia) and the 5th largest city in the United States.
Manufacturing, Aerospace and Defense are the booming industries here and experts say that while they expect a weak economy in 2023-24, they don’t expect a collapse! So, the people and businesses keep coming to our valley of the sun where the average daily temperature in 2023 was 88.9 degrees!
When I moved here in 2009, you could find great housing deals because the real estate collapse of 2008 was still painfully fresh. There were load of developments that were left partially completed and just abandoned. As things started to change during the next few years you could see those developments taken over by new owners and pushed to completion.
These days, it’s hard to pass by a street or corner that doesn’t have some type of construction going on. Whether it’s housing or commercial, construction is everywhere.
The more “seasoned” East Valley continues to thrive but it’s the West Valley where it’s really happening today. Buckeye, Goodyear, Surprise and Avondale all are enjoying healthy economic growth, but it was the new Costco in Buckeye that seemed to be the lightning rod for major construction.
Adding more than 100,000 people in the last 20 years, economic growth is poised to catch up and provide retail and restaurant support that has long been wished for and needed.
One of the highlights my west valley neighbors are looking forward to is the highly anticipated Verrado Marketplace with 730,000 square feet of active commercial development that will include retail and healthcare services.
Scheduled to be located at the Northwest corner of Verrado Way and I-10, you can click the link below for lots more information about what is expected!
https://azbigmedia.com/real-estate/verrado-marketplace-heres-what-site-plan-shows-is-coming
I’m excited about the direction Phoenix, in general, and the West Valley specifically is taking. It’s a great time to think about becoming…..
#transplanted