Today Inman News named Phoenix one of five of the nations unexpectedly hot housing markets. Inman accounts this to the increase in employment, which is down from 12% to 8% since January 2010, adding approximately 24,800 jobs. Construction jobs accounted for many of these jobs, and with building permits increasing 24% since last year, this helps the economic recovery. A few days ago the city council approved two new high rise buildings for downtown Phoenix with the goals of creating a more livable walkable downtown Phoenix.
"It's important that high-rise buildings in the heart of the city work not just for the tenants of that building, but also work for the residents in general, as downtown is a neighborhood," said Stanton. (source CBS5AZ) Real estate prices have also been steadily increasing, yet are still at an affordable rate making Phoenix one of the hottest real estate markets in the US.