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Arizona real estate

Arizona – Will 2013 Bring Statewide Housing Prosperity?

Arizona is normally near the top of the charts when it comes to state economies and employment. However, that wasn’t the case after the housing bubble burst. During the Great Recession, tourism dropped and unemployment soared. There were more underwater mortgages in Arizona than in most other parts of the country.

Even by 2011 – after economists had declared the recession officially over – economic experts in Arizona said the effects were far from gone. Most were in agreement that the effects would linger until the housing market turned around.

That began to happen in 2012.

In fact, by the time 2012 came to a close, homes for sale in Arizona were selling for 20% more than what they had at the beginning of the year. Oh sure, prices in the Grand Canyon State had plummeted to some of the lowest in the country, but no state saw increases like this.

As a result, investors couldn’t help but take notice. After all, the prices started off so low here that even a 20% increase is still very affordable. And, in order to skip the hassle of red tape, many investors decided to do all-cash transactions.

All of that money flowing into Arizona’s housing market served as a jump-start for other things – like restaurants, stores, and other businesses. So, even though most of the investors weren’t locally-based, they were working wonders for the local economy. As a result, it gave many local residents a chance to buy homes of their own.

And just like that the housing gears finally started to turn!

So, what do realtors in Arizona expect to see in 2013?

Good things!

In Phoenix – Arizona’s biggest city and, thus, the city that can pave the way for true recovery – the name of the game is stability. By the end of 2012, home prices were up 25%. Investors are in full force here, but there are also a number of first-time homebuyers, too. Between the two groups, there is plenty of demand for the homes for sale in Phoenix!

What about the rental market?

The prices for apartments for rent in the area could soon be going up, since investors have been snapping up properties and turning them into vacation rentals.

If you’re looking to rent in Phoenix full-time, the average apartment will cost you about $840 per month. Keep in mind, though, that rental prices here spent all of 2012 steadily going up – and are expected to keep doing so.

Realtors in Arizona say that Phoenix is definitely the bright spot of the state. Now, they’re waiting for Phoenix’s prosperity to extend to the rest of the Grand Canyon State!

Living in Arizona

How do you feel about stunning desert landscapes, mountain ranges, vast sunny skies, and mild winters? Arizona offers them all!

In fact, this state offers a tale of two climates! The southern half of Arizona is known for its dramatic desert climate, while the northern half features beautiful mountain ranges and canyons. In some places, you can even find volcanic mountain ranges that are more than 12,000 feet high!

But before you pick a “half” that’s right for you, let’s go over some of the fast facts:

  • What is the population of Arizona?
  • The population of Arizona is 6,553,255
  • What is the capital of Arizona?
  • The capital of Arizona is Phoenix
  • What is the largest city in Arizona?
  • The largest city in Arizona is the Phoenix

At one time, Arizona’s economy was mostly dependent on what was called the “Five C’s” – copper, cotton, cattle, citrus, and climate. While a substantial amount of copper is still mined from open-pit and underground mines, the state’s economy is a bit more diverse today. Health care, transportation, and government comprise a significant amount of commerce. The U.S. government owns nearly 70% of the land here, some of which is leased to ranchers and miners.

If you’re adventurous or simply love the outdoor life, then Arizona is a great choice for you! That’s because northern Arizona is home to the celebrated Grand Canyon. The Grand Canyon National Park is considered one of the seven natural wonders of the world and was one of the first-ever United States national parks.

There are also several national forests, parks, and monuments throughout the state. And, the mountains of Arizona offer great skiing – especially in the Flagstaff and Alpine areas. If you can’t take advantage of winter snowfalls, be sure to check out the hiking the rest of the year!

If you enjoy science, the most well-preserved meteorite impact site in the world is here, too. At nearly one mile wide, this crater is known as the Barringer Meteorite Crater.

Basically, if you want it, Arizona’s got it!

This is the Census data for Arizona

Population

Total population estimate for Arizona (July 1) 2012
6,553,255
Total population change for Arizona- April 1, 2010 to July 1, 2012
2.5%

Age

Percentage of the population that's under 5 years old in Arizona, 2011
6.9%
Percentage of the population that's under 18 years years old in Arizona, 2011
25.1%
Percentage of the population that's 65 years and over Arizona, 2011
14.2%

Gender

Percentage of the population that are females in Arizona, 2011
50.3%

Race breakdown for Arizona in percentages

White alone, 2011
84.6%
Black alone, 2011
4.5%
American Indian and Alaska Native alone,2011
5.2%
Asian alone, percent, 2011
3.0%
Native Hawaiian and Other Pacific Islander alone, 2011
0.3%
Two or more races, 2011
2.5%
Hispanic or Latino Origin, 2011
30.1%
Not Hispanic, White alone, 2011
57.4%

A little more about the residents of Arizona

Percentage of residents who lived in the same house 1 year ago, 2007-2011
80.1%
Percent of residents who are foreign born 2007-2011
13.9%
Percent speaking a language other than English at home, 2007-2011
27.1%

Education

Percent high school graduates or higher for residents 25 years old and over in Arizona, 2007-2011
85.2%
Percent with a bachelor's degree or higher for residents 25 years old and over in Arizona, 2007-2011
26.4%

Veterans

Total number of Veterans living in Arizona 2007-2011
536,449

Communting

The average travel time to work for workers in Arizona (16 years and over not working at home), 2007-2011
24.7 mins

Real estate stats in Arizona

Housing unit estimates, 2011
2,864,335
Owner-occupied housing units - percent of total occupied housing units, 2007-2011
66.6%
Housing units by units in structure - multi-dwelling structure, percent, 2007-2011
20.6%
Median value of specified owner-occupied housing units, 2007-2011
$197,400.00
Households, 2007-2011
2,344,215
Average household size, 2007-2011
2.64

Income

Per capita income for Arizona in the past 12 months (in 2011 inflation-adjusted dollars), 2007-2011
$25,784.00
Median household income in Arizona, 2007-2011
$50,752.00
Percentage of people living in poverty in Arizona 2007-2011
16.2%

Business and commerce info for Arizona

Private nonfarm establishments, 2010
131,849
Private nonfarm employment for pay period including March 12, 2010
2,065,224
Private nonfarm employment for pay period including March 12, 2010, percent change, 2000-2010
7.6%
Total number of businesses in Arizona, 2007
491,529
Percentage of Black-owned businesses in Arizona, 2007
2.0%
Percentage of American Indian- and Alaska Native-owned businesses in Arizona , 2007
1.9%
Percentage of Asian-owned businesses in Arizona, 2007
3.3%
Percentage of Native Hawaiian- and Other Pacific Islander-owned businesses in Arizona, 2007
NA
Percentage of Hispanic-owned businesses in Arizona, 2007
10.7%
Percentage of Women-owned businesses in Arizona, 2007
28.1%

Land size and population

Size of Arizona in Square Miles, 2010
113,594.08 mi²
Population per square mile in Arizona, 2010
56.3

Arizona real estate

[Not Specified]

Apache Junction

Aripine

Arizona

Bisbee Douglas

Black Canyon City

Bullhead City AZ

Carefree

Cascabel

Cashion

Choncho

Claysprings

Clifton

Clifton-50 miles N of

CONCHO

Concho Valley

Cordes Junction

Cordes Lakes

Corona de Tucson

Crown King

Forest Lakes

Fortuna Foothills

Gleeson

Gold Canyon

GREER

Hackberry

Joseph City

Lake Havasu

Lake Havasu City

Lake Montezuma

LAKESIDE

Lakside

Litchfield Park

Los Angeles (City)

Maricopa

Maricopa (Pinal County)

Morristown

N Apache County

Near Snowflake

Nutrioso

NUTRIOSO

Oatman - Mohave Valley AZ

Other City - Not In The State Of Florida

Outside Area (Outside Ca)

Paradise Valley

Pearce Az.

Pearce/Sunsites

PHOENIX

Pindedale

Pineotp

Pinetop-Lakeside

Pirtleville

Saint Johns

San Tan Valley

Scottsdale AZ

SHOW L0W

SHOW LOW

ShowLow

Snow Flake

SNOWFLAKE

Snowflalke

Snpwflake

South Tucson

Spring Valley

SPRINGERVILLE

st johns

St Johns

Stanfield

Sun City West

Sunizona

Tempe AZ

Thatcher

Tonto Basin AZ

Vernoin

Waddell

WAGON WHEEL

Walnut Grove

White Mnt.Lakes

White Mountain Lake

White Mountain lakes

White Mountain Lakes

WHITE MOUNTAIN LAKES

White Mountian Lakes

White Mtn Lake

White Mtn Lakes

Wickenburg

WICKENBURG

Williamson Valley

Winslow

witch wells

Woodruff

WOODRUFF

Youngtown