DQNews Archived Article

Out-of-State Arizona Home Purchases

by Real Estate Analyst John Karevoll
September, 1995

San Diego,CA—More out-of-state Arizona homebuyers live in California than any other state, a real estate information service reports.

But they don't spend as much on their homes as do the absentee owners who live in Illinois or Michigan, according to DataQuick Information Systems.

A total of 1,366 California residents have bought a house or condo in Arizona during the 12-month period ending in July. That accounts for 26.5 percent of the 5,154 owner-absent homes sold during the period.

Residents of Illinois are the second most likely to have bought an Arizona home, followed by Washington, Colorado and Minnesota (see chart).

DataQuick monitors real estate purchasing, financing and foreclosure activity nationwide. The company, which has an office in Phoenix, provides information to consumers, lending institutions, title companies and industry analysts. Absentee ownership is assumed when bills for property taxes are sent out-of-state.

By city, the highest number of out-of-state homebuyers live in San Jose, followed by Los Angeles, Seattle, New York, Chicago and Denver.

Absentee Arizona Homebuyers

		Average
	Number	Purchase
State	Sold	Price
California	1,366	$112,590
Illinois	410	$129,371
Washington	344	$112,319
Colorado	307	$118,959
Minnesota	256	$109,511
Michigan	223	$120,188
New York	205	$105,119
Wisconsin	160	$112,755
Oregon	155	$111,035
Pennsylvania	123	$133,337

Source: DataQuick Information Systems

For more information call John Karevoll (909)867-9534

Copyright © 1995 DataQuick Information Systems.
All rights reserved.