Phoenix Arizona Home Sales Rise to Record Levels
The Greater Phoenix area home sales in December rose 25% over November and was the highest level for a December in five years. Foreclosure resales represented over 56% of the sales which is no surprise as Arizona ranks second only to Nevada in the persentage of foreclosed homes.
It is also very interesting that this article mentions that absentee buyers represented over 44% of the sales, the highest level in a decade. Though the article says that these are mostly investors, I have found that in Maricopa Arizona a large number of these absentee buyers are “snowbirds” (seasonal residents.
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