Is Israel spiritually alive now that they have returned to their land?
No. Though Israel has returned to its land and shows physical restoration, the nation remains spiritually dead. The dry bones picture in Ezekiel 37 and Paul's analogy in Romans 11 indicate that spiritual life has not yet come; they are still awaiting that awakening.
Les explains that Israel’s return to the land is pictured by Ezekiel’s valley of dry bones. The bones were very dry and white as snow, representing the nation out of the land of promise, away from temple worship, and blinded. God is bringing them back to life, and for the last 48 years Israel has been shaking and rattling, coming back from every nation. Les points out that muscle and skin have returned, but there is still no life spiritually; they remain spiritually dead. This is the same analogy Paul uses in Romans 11: the whole nation coming back to the homeland, waiting for the second coming as we look at it, though they think it is their first coming.
More Questions
Is Ezekiel's dry bones vision about Israel returning to their homeland?
God is going to bring Israel back to life; the dry bones were a picture of the nation of Israel coming back to their homeland, which has been happening over the last 48 years.