Real Estate in Arizona

This section provides general information on Real Estate in Arizona including housing trends, education and employment analysis and various types of real estate markets ranging from apartments to commercial real estate.

Arizona Real Estate Market Landscape

Arizona is the “New” place to retire. Sunny skies, and dry, warm winters make for the perfect spot to get away in your golden years. Arizona has mountainous terrain and dessert valleys, and farmland scattered in between urban cities which are growing quickly. The population in 2005 stands at 5.9 million people, with 5.2 living in urban and suburban areas.

There are 26.5 million acres used for farmland of Arizona’s 72.7 million acres. The top exports for the state are cotton, vegetables and seeds. The desert region is not well suited for farming unless irrigation facilities are close by.

Arizona Real Estate Market in General

In 2000, housing structures were at 2.1 million, a 32% increase from 1990. Of those numbers, 1.8 million were in urban areas and the remainder in rural areas. The median value of occupied homes is $121K. The vacancy rate, taking into consideration the tourists and “snowbirds” is 13%.