Outside Investors Drive Phoenix Home Sale Resurgence

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Real Estate Sales Representative with www.Peeka.info

Outside Investors Drive Phoenix Home Sale Resurgence

Source: Housing Wire | May 5, 2011

Home sales in the greater Phoenix area rose 7.3% in March compared to the year prior, driven by a record number of absentee buyers. Research firm DataQuick reported 10,352 new and resale home and condo sales during March, up 44.3% from February. An increase in sales is normal between the second and third months of the year, DataQuick said, but Phoenix witnessed a bigger jump than normal this year. "On average, Phoenix-area sales have risen about 30% between those two months since 1994, when DataQuick's complete Phoenix region statistics begin," the firm said in its report. "March's sales were the highest for that month since 10,712 homes sold in March 2007." [Read this article]

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