37% To 42% Of Phoenix Home Sales Are Cash
Posted by Artur Ciesielski on Friday, August 19th, 2011 at 10:02am.The graph below does not need much in term comments. It's fairly self explanatory. 36% of home sales in Phoenix in July were cash and it was as high as 42% a few months ago. It's been like this in the 35%+ range for the last year or so and it's been high since at least late 2008.
Compare this to the previous years when it's been under 10%. This is a completely different market then it was years ago when many of the investors where speculators with a donut shop job and 5 homes sitting there to be flipped to the guy working at the coffee shop. Nothing wrong with those job, but people who can't carry the mortgages should not be investing this way.
It's a different world and a different market now: much has changes.
Artur Ciesielski | 602.492.8004
Artur is a Realtor and partner with inPhoenix Realty Group and an aspiring flaneur, currently in Phoenix or elsewhere when time allows, which is rarely. You can find him running up miles on this car, cycling the urban streets, in the office on Central or working at one of the many coffee shops in Central Urban Phoenix.
Related Links
Print
ShareBe the first to comment on this blog entry!
