Arizona’s house prices jump among best in the country

 

arizonaBy Phil Riske | Managing Editor

House prices in Arizona were a positive note in an otherwise negative report on the state’s economy by Business Insider.

The publication this week released its analysis of the 50 U.S. state economies and placed Arizona at 21st best economy, compared to 10th last year.

“While Arizona has an increasingly diverse economy, mining still draws a disproportionately large share of employment in the state,” the report stated.

House prices in Arizona jumped 6.5 percent from Q3 2013 to Q3 2014, well above the average increase of 3.85 percent among all the states.

Job growth was also strong, with nonfarm payrolls growing at a 2.4 percent rate between December 2013 and December 2014. Despite that growth, December 2014 unemployment stayed high, at 6.7 percent.

The top three state economies, according to Inside Business, were N, Dakota, Texas and Colorado, respectively.

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