By Catherine Reagor | Arizona Republic (Submitted Photo)
Metro Phoenix is drawing more millionaires — or at least buyers who can pay $1 million or more for a home.
Million-dollar home sales in the Valley hit a new record in April, up 32% from December 2020’s record.
Valley mansions and spacious condominiums with seven- and eight-figure price tags are selling more briskly, and many buyers are paying cash.
A growing number of the deep-pocketed buyers are from out of state, but many are local.
And the prices buyers are willing to pay for a luxury home in the Phoenix area are soaring.
A couple of mansions priced above $10 million typically sold each week in April, and the trend continued through May.