Phoenix, Tucson lead way in western economy study
Jan 13, 2015, 3:53 PM | Updated: 3:54 pm
PHOENIX — A report painted a bright economic picture for both the Phoenix and Tucson metro areas.
Brookings Mountain West and the University of Nevada-Las Vegas looked at 10 major metro areas of the Mountain West, which, as a group, outperformed the national economy during the third quarter of 2014.
Phoenix posted the fastest job growth in the region during the third quarter, as employment increased by 1.1 percent, more than twice the national average of 0.5 percent. Home prices in the Valley increased by 1.1 percent.
Tucson didn’t have the job growth of Phoenix, but did post a job gain of 0.5 percent. Where Tucson really shined is on the housing front. Tucson saw prices increase by 2.1 percent, well above the national rate of 1.3 percent and behind only Denver and Las Vegas in the 10-city study.