Metro Phoenix Top Nationwide Overall Performance – December 2012

With the shining performance of Employment (6th), Unemployment (26th), Output (GDP) (3rd) and House Prices (1st), metro Phoenix proudly stands on the 3rd position among nation’s top 100 metro areas.

Phoenix led the West region and much of the nation with swift job growth of 0.8 percent over the quarter. Phoenix also has rebounded steadily with cumulative job growth of 4.5 percent.

The unemployment rate declines 0.4 percentage points in Phoenix and stood below 7.0 percent. Over the course of recovery, unemployment rate has fallen from the peak most swiftly in Arizona.

Output continued to recover in the metro Phoenix during the third quarter and the rate of expansion increased. Arizona metros led the region’s output growth with surges of 1.3 percent in Phoenix and 1.8 percent in Tucson over the quarter.

Increases in the House Price Index over the quarter a heady 4.6 percent in Phoenix – the largest increase in the country. Phoenix leads the West region in terms of overall house price recovery as well.

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