By Bill McBride | Calculated Risk blog
This is a key housing market to follow since Phoenix saw a large bubble and bust, followed by strong investor buying.
The Arizona Regional Multiple Listing Service (ARMLS) reports (table below):
1) Overall sales in December were up 5.9% year-over-year.
2) Cash Sales (frequently investors) were down to 23.1% of total sales.
3) Active inventory is now down 2.9% year-over-year.