Arizona is also home to one of the 7 Wonders of the World, the Grand Canyon, which is the biggest tourist draw in the state. Other attractions include bustling nightlife of the major cities of Phoenix, Tucson and Flagstaff (where visitors and locals alike partake in the myriad bars, billiards, casinos and music and comedy shows available) as well as the many museums and festivals dedicated to the cultural arts. With a large Native American population, Native ruins, historic and cultural sites are always a big draw, as are any sites having to do with the “Old West.” With so many different things to do, it’s no wonder Arizona has been one of the top recipients of new people moving in from another state.

Arizona is currently home to 6,166,318 people, with the unemployment rate for April at about 4%, just a bit of an increase from the historical low of 3.9% from the previous month (March 2007). As of 2004 the median household income was about $43,696, which has most likely increased to about $45,000 or so by the end of 2006. The median home value in Arizona is currently $306,877 for a home a little over 1700 square feet.

Most real estate professionals agree that Arizona’s market has definitely shifted to a buyer’s market and the huge inventory of houses for sale help keep the home value averages down. Even the median home value for the greater Phoenix is down somewhat from what it was this time last year. Until the inventory of homes levels out, home value averages are likely to stay down. If you’re looking to buy in Arizona, now is a great time to do it.

Selling Arizona real estate isn’t impossibility, either. Many people get discouraged by the economy and the number of homes that aren’t selling, but other AZ real estate shouldn’t discourage you. Phoenix AZ real estate and other Arizona real estate do have a high foreclosure rate right now, but if you hire the right Arizona real estate agent, you can avoid facing this problem and get your home sold much faster. It might be a little cheaper to sell your home on your own, but it might take much longer than if you would hire an Arizona real estate agent to help you with your sale. It’s definitely a worthwhile investment to make into your home’s sale.

Arizona real estate is pretty much the same as the other markets out there. However, it does have its perks and some things that are better than in other markets. You’ll likely find Phoenix AZ real estate much easier, and get better deals on the homes that are available. Also, AZ real estate is selling better than other areas of the country, simply because of the number of qualified Arizona real estate agents that are there to help out. Whether you’re buying or selling Arizona real estate, you’ve got a good chance of success, if you take the time to find and hire a qualified Arizona real estate agent.