Unless you’ve been living under a rock for the past six months, you are probably aware of the dire reports about our real estate market. Indeed, the whole country seems to be suffering. Inventory levels remain at all time highs and we have seen a 10 to 15% decline in home values across the state. To add fuel to the fire, mortgage companies throughout Arizona have been closing their doors leading to a cash crunch.

So, where’s the good news you ask? Well, let me explain why Arizona’s real estate future looks bright:

Despite a floundering real estate market, Arizona’s job growth has remained strong throughout 2006 and 2007. Typically, Arizona accounts for one out of every 52 jobs created in the United States; however, over the past year, Arizona has accounted for a remarkable one out of every 15 jobs created in the U.S. According to the Arizona Blue Chip Economic Outlook, employment should be up 3.7% during the next year which means an additional 73,400 jobs will be created—more jobs means more workers and more workers means more housing will be needed!

Population growth is another important factor in Arizona’s positive outlook. According to the Census Bureau, Arizona is expected to grow by 5.6 million people over the next three decades. The greater Phoenix metropolitan area is expected to grow by over one million people over the next 10 years. Arizona is currently the second fastest growing state in the nation—just behind Nevada. More people moving to Arizona means more housing will be needed!

And, let’s not forget the weather—Arizona enjoys over 300 days of sunshine per year and does not experience earthquakes, mud slides, devastating tornadoes, hurricanes, brutal snow storms (at least not in Phoenix) or flooding like you see back east. We have it pretty darn good here and lots of other folks thinks so too—that is why Arizona will continue to be a haven for thousands of relocating families and second home owners. Our future looks bright indeed so spread the word!