Expert: Arizona real estate on the rise

One Kingman, Arizona, real estate agent thinks that the state's housing market is ripe for a recovery.

While median home prices in the state are sinking and rising foreclosures are leading to a crowded housing inventory, today's market actually presents a strong homebuying opportunity, said Realtor Amy Kleefisch. Interest rates are low and large home inventories - especially of distressed properties - give buyers plenty of choices if they're looking for a bargain on a new home. She specifically pointed out the Kingman area as one that is expected to see some growth in the near future, mainly due to an influx of new businesses.

"It's a step in the right direction," said Kleefisch. "We have the infrastructure in place, which is a key building block to growth. It might take some time, but we hope we are currently seeing the indicators that we are slowly turning around, with a flurry of activity and contracts coming in during the past couple of weeks."

Arizona's real estate market has had a rough time recovering from the housing crash, but economic improvements could encourage some people to move back to the state.

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