It is no secret the buyers have arrived to the Phoenix Real Estate market- and we are seeing a new home buying boom in Phoenix.” So who is buying? In an article today at azcentral.com:
“In April, about 19 percent of all Valley homes were purchased by investors, according to real-estate analyst Mike Orr.
He works with the Arizona Regional Multiple Listing Service and the Information Market to analyze real-estate data daily for the Cromford Report.
During the boom, investor purchases accounted for 35 percent to 40 percent of metro Phoenix’s record home sales.
Now, first-timers are the Valley’s fastest growing group of home buyers. One housing-market watcher believes first-time buyers soon will account for half of the area’s home sales.”
As you may well know- first time home buyers are in a prime position: Record low prices, record low interest rates and a sweet government incentive-the $8000 tax credit.
Here is an up-to-date look at statistics for single family homes in Phoenix.
Tables and charts from The Cromford Report using data from public records and data licensed from the Arizona Multiple Listing Service (ARMLS).