According to AZCentral.com, even though homes in Arizona continue to decline in value, and the jobless rate continues to climb, the economy in Arizona is on the rise.  The good news, is that “Arizona’s economic recovery is among the fastest in the country.”  Of course, when the economy has been one of the nation’s worst, there is no where to go but up.

http://www.azcentral.com/business/news/articles/2011/02/17/20110217economy-arizona-rise-expert-says.html

Other factors are driving the supposed economic recovery for Arizona, namely consumer spending and manufacturing and technological gains.  The article also indicates that they feel the worst is over in the Housing Market.

Unfortunately, not convinced that the worst is over for homes in Arizona.  There are many contradicting opinions from economists as to when the “bottom” of the market will hit.  Some say end of 2011, some say middle of 2012, but most agree that the road to recovery and the return of peak pricing values won’t happen anytime soon.  What does that mean for people that own homes in Arizona?

It still means that you will certainly need a long term exit strategy on your property.  In the event that you would like to sell your property, chances are most homeowners still owe more than their property is worth.  It just isn’t with loans in the subprime markets, it’s not escalated to almost all homes, even if you were a prime credit borrower.

Options are still available for those who own homes in Arizona, and for those that are looking to purchase homes in Arizona, timing is right for purchase, as some property values in certain areas of Arizona are turning around.  One thing I do agree with, the opinion of one stated “Housing now is a better buy than it’s been in 40 years.”  Of course, and the opportunities will continue to get better.