This is good news for the Arizona real estate market.

It’s been two years since the real estate market peaked in Arizona. The market has done a lot of digesting of the large price increases but it’s still not out of the woods. The market would be vulnerable to large price decreases if a recession were to hit.

The stellar consumer confidence numbers, however, suggest that the next recession is a long way off and the Arizona real estate market will have more time to digest – the soft landing.