| Arizona's economic outlook has received mixed | | | | export-oriented industries, in Arizona, which are |
| reviews by leading economists. The consensus is that | | | | expected to experience continued growth. Arizona, in |
| Arizona will likely experience decelerated growth | | | | regards to taxation, is a very appealing state for |
| throughout the first half of the year, with in all likelihood | | | | entrepreneurs; so we can expect a continued influx of |
| the economy will show signs of improvement towards | | | | new businesses, including residents, and tourists. |
| the end of the year. | | | | What does this mean for Arizona's real estate |
| A positive close to 2008, will depend on the strength of | | | | market? |
| Arizona's housing market leading into the final quarter | | | | Georganna Meyer, Chief economist for the Arizona |
| of the year. An important factor for judging the overall | | | | Department of Revenue said, "I expect the real estate |
| strength of the economy, in 2008, will rely heavily on | | | | market and contracting to continue to have reduced |
| the housing industry not experiencing any drastic | | | | activity in 2008, but recovery should begin in 2009. As |
| changes or unforeseeable obstacles. | | | | a result, I expect state tax revenues will grow only |
| Marshall Vest, Economic and Business Research | | | | slightly in 2008, if at all. Whether we're in a recession or |
| director for the University of Arizona stated, "It will be a | | | | not, the results will be the same." |
| number of months before economists can say for | | | | In general, the declining number of construction permits |
| sure that Arizona's economy is contracting, but recent | | | | will reduce builders' inventories, helping to stabilize |
| trends in the data that we do have are ominous." | | | | Arizona's housing market and returning it to pre-boom |
| There are many indicators which have Vest and many | | | | growth patterns. Home values will also show a decline |
| other economists concerned for Arizona's start to | | | | to start the year off, due to foreclosure and restrictive |
| 2008, which includes: employment and the introduction | | | | lending practices, which will make Arizona more |
| of the employer-sanctions law; automotive sales and | | | | appealing to new residents. The local job market and |
| retail sales in general; new home sales and inventories, | | | | entrepreneurial appeal will likely contribute to Arizona's |
| resale home prices, and building permits; and | | | | predicted rebound late 2008. |
| employment growth in health, manufacturing, and mining | | | | Find the best incentives on Arizona homes for sale |
| sectors. | | | | from Phoenix home builders by visiting the popular |
| There is good news! Mainly the economic diversity and | | | | Arizona real estate website - New Homes Section. |