Arizona Home Sales Down 13 Percent

November 26, 2013

The latest home sales report released Tuesday morning by RealtyTrac, shows a 2 percent increase in annualized sales from October and a 13 percent hike in sales from October of last year, but Arizona bucked the national trend with a sales decline of 13 percent from a year earlier, according to RealtyTrac Vice President Daren Blomquist. And, he said investors are continuing to pull out of the Arizona market.

“Despite that pull-down in investor activity, home prices are continuing to go up even by double digits,” Blomquist said.

He said median home prices were up 18 percent last month to $165,000. He said it is a good sign that the market is able to stand on its own two feet, even without heavy investor influence.