Arizona Republic, Catherine Reagor - Economist predict that Arizona's housing will not recover until 2014, two years later than they previously expected. Metro Phoenix home prices aren't expected to reach the highs of 2005 again until after 2014.
Without new jobs to draw more residents to fill almost 80,000 area homes left empty by the recession, home prices will remain depressed. The State is not expected to see pre-recession employment levels for another four to five years.
To read the full article click here:http://www.azcentral.com/business/realestate/articles/2010/01/21/20100121urbanlandonline0122.html