April 25, 2024 3:06 am
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Metro Phoenix million-dollar home sales jump — but who’s buying them?

By Catherine Reagor | Arizona Republic

A lot more millionaires are buying metro Phoenix homes.

Sales of homes priced at $1 million or more in the Phoenix area have jumped 36% during the past six months, according to the Cromford Report.

In 2019, a record 2,132 houses with seven-figure price tags changed hands Valley-wide. That’s up 7.6% from 2018. 

And the pace isn’t slowing down.

“So far in January, sales priced at $1 million or more are already 54% higher than in early 2019,Tina Tamboer, senior analyst with Cromford, told 375 real estate agents earlier this week at Bobby Lieb’s HomeSmart Elite meeting.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.