The Phoenix metropolitan area is becoming one of the most lucrative markets for real estate this year as it outgrows its dependence on tourism and construction and sees the growth of a broader employment base. In this episode, Marco Santarelli and senior investment counselor Steve Olson talk about the prospects of the Phoenix real estate market, specifically in rental properties and new construction of triplex properties. Phoenix is a growth market that will ensure prospective investors massive returns in the short term. If you’re looking to make money quickly in real estate this year, Phoenix might just be the right market for you. Listen in and take a sneak peek into this vibrant market.
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It's time for another market spotlight. I do these episodes to educate you and to also share the opportunities that are available around the United States that you may or may not be aware of. A lot of people are focused on their local market or what is going on in their own state, that they don't realize that there are over 400 metropolitan areas around the country that you can look at and find great investment opportunities. Before I get into things, remember to subscribe to the show so you don't miss another opportunity, another market spotlight or any other type of education that we are passing along here lovingly and freely.

I have this bad habit of keeping Christmas cards. I had a small pile stacked up on my desk here. I picked one up here from a very nice lady, Teresa, a client of ours. I reread it and she said, “Marco and team, I wish you all a wonderful holiday celebration and a prosperous 2020 year.” I am thankful for stuff like this. This is the great part, she goes, “Thank you, Marco, for all you do to help us in believing that anybody can invest in real estate. It is possible. It is not rocket science. I have done it, thanks for your show and great help from your team. Sincerely, Teresa.” You're very welcome, Teresa. Thanks for your trust and your business. We hope that we can help build a large real estate portfolio for you so you have your financial goals achieved.

We have a market spotlight on Phoenix, Arizona. The Phoenix housing market was headline news when the housing crisis of 2007 and 2008 caused home values there to fall by as much as 50%. Nowadays, we see the Arizona real estate market thriving. The Phoenix Metro is expected to be among the top five housing markets in 2020. The favorable living conditions there have comforted real estate investors to invest in the Phoenix real estate market. Phoenix is a very large city. It's located in the state of Arizona. It has a population of over 1.6 million people and about 360 constituent neighborhoods. Phoenix is the largest community in Arizona.

Unlike some cities, Phoenix isn't mainly white or blue-collar. Instead, most prevailing occupations for people in Phoenix are a mix of both white and blue-collar jobs. Overall, Phoenix is a city of sales and office workers, service providers and professionals. There are a lot of people living in Phoenix who work in office and administrative support. That makes roughly about 14% of the jobs there. Another 11% or so are sales jobs and another 9% are management-based occupations. Also of interest is that Phoenix has more people living there who work in computers and math compared to 95% of the other markets across the United States. It is a well-educated metropolitan area because people are into computers and math in terms of their jobs and careers.

What about the Phoenix home market in terms of appreciation rates and whatnot? In the last several years, Phoenix has experienced some of the highest home appreciation rates of any community in the nation. Phoenix real estate appreciated about 105% over the years, which is an average home appreciation rate of about 7.5%, which puts Phoenix in the top 10% nationally for real estate appreciation. If you are a home buyer or a real estate investor,