State economy improving, but slowly

The housing market is healthy, not overheated’

The Arizona Republic

Several positive signs show Arizona’s economy is improving, although slowly. Besides the jobless rate, one of the indicators that matters most to consumers is the median home price, which fell 65 percent during the recession and erased much of the accumulated wealth for many Arizona families.

The average home price is up about 30 percent in the past year, and the number of houses for sale is at a six-year low.

While there is some concern that the warming market resembles the pre-recession bubble in real estate, experts said there are differences, including fewer investor deals and the return of more traditional buyers and sellers.

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August 2012
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