Arizona Real Estate Market Trends & Analysis
The Arizona real estate market was subjected to a great deal of volatility in as little as one decade’s time. Few states, for that matter, saw a more dramatic swing in their respective real estate markets than Arizona bore witness to in 2012. The state was hit hard during the Great Recession, perhaps harder than most, but few could have bounced back with the same speed and efficiency witnessed in Arizona.
Thanks, in large part, to more employment opportunities, corporate expansion, increased housing inventory, and wage growth, the Arizona real estate market is now firing on all cylinders. In the event Arizona’s latest new building initiative is able to satiate demand, there’s no reason to think the Arizona real estate market won’t thrive for the foreseeable future.
Thanks, in large part, to more employment opportunities, corporate expansion, increased housing inventory, and wage growth, the Arizona real estate market is now firing on all cylinders. In the event Arizona’s latest new building initiative is able to satiate demand, there’s no reason to think the Arizona real estate market won’t thrive for the foreseeable future.
Arizona Real Estate Fees & Regulations
Real Estate
| Closing Conducted by: | Title Companies, Title Agents |
| Conveyance: | Warranty Deed |
Foreclosure Procedure
| Primary Foreclosure Method: | Non-Judicial |
| Process Period: | 3 - 4 months |
| Notice of Sale: | Trustee |
| Redemption Period: | Up to 6 Months |
Taxes
| Income Tax: | 2.59% - 4.54% |
| Corporate Tax: | 6.968% |
| Sales Tax: | 5.60% |
| Estate Tax: | No |
| Inheritance Tax: | No |
| Median Property Tax: | 0.72% |
| Property Taxes by County: | http://www.tax-rates.org/arizona/property-tax#Counties |
Average Transactional Costs
| Closing Cost: | $2,425 |
| Transfer Fee: | Deed $2 per deed; Flat fee |
| Origination Fee: | $1,810.00 |
Overview
- Median Home Value: $254,600
- 1-Year Appreciation Rate: +5.3%
- Median Home Value (1-Year Forecast): +2.1%
- Median Rent Price: $1,550
- Price-To-Rent Ratio: 13.68
- Average Days On Market: 61
- Percent With Negative Equity: 8.0%
- Unemployment Rate: 4.9% (latest estimate by the Bureau Of Labor Statistics)
- Population: 7,171,646 (latest estimate by the U.S. Census Bureau)
- Median Household Income: $53,510 (latest estimate by the U.S. Census Bureau)
- Percentage Of Vacant Homes: 16.19%
- Foreclosure Rate: 1 in every 4519
Arizona Foreclosure Trends & Statistics
Tax Lien Investing
- Tax Lien or Deed: Tax Lien state
- Interest Rate: 16%
- Redemption Period: 3 years
- Arizona Auction Practice Site - Daily Practice Auction
- Apache County, AZ - February
- Coconino County, AZ - End of January to first of February
- Maricopa County, AZ - February
- Mohave County, AZ - February
- Pinal County, AZ - February
- Yavapai County, AZ - End of January to First of February