Excerpt from: Greater Phoenix trends and statistics
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| October 02, 2008 | | How many of the sales of homes and condos in Greater Phoenix are purchased for investment? |
The data below show the sales to investors as a percentage of all sales
for condos and single family homes.
This is based on what is filed
with the Maricopa County recorders office as intended use. This includes all sales not just those of the ARMLS.
Date | SFR % | Condos% | | Aug. 2008 | 8.6 | 15.2 | | March. 2008 | 8.7 | 18.7 | | Aug. 2007 | 9 | 17.7 | | March. 2007 | 10.1 | 17 | | Aug. 2006 | 10.4 | 20.5 | | March. 2006 | 9.8 | 23.6 | | Aug. 2005 | 13.9 | 28.5 | | March. 2005 | 15 | 24.4 | | Aug. 2004 | 12.5 | 24.7 | | March. 2004 | 7.1 | 16.2 | | Aug. 2003 | 5.7 | 14.4 | | March. 2003 | 4.2 | 11.2 |
There is really not much to deduce from this raw data, except that investor sales continue to play a significant part of the total sales.
You can see, at excess in 2004 and 2005, sales to investors were very high and in fact, were probably higher since -I'm sure- some people purchased for investment what was stated at owner occupied to take advantage of more favorable terms. That's very much less likely to happen now with the more stringent lending guidelines.
In the current market there is a lot of interest from investors and rightfully so. Prices are very attractive and a lot of properties make sense for the long term as investments even in this rental market of higher vacancy and lower rents.
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