Canadians now top out-of-state homebuyers

There's a shift in who is investing in metro Phoenix homes. Californians are no longer the region's biggest group of out-of-state buyers. Now, the dominant group of out-of-state buyers is from outside the country. Canadians bought 405 Phoenix-area houses in April, according to the Information Market. About one-fourth of the people who bought homes in metro Phoenix during April weren't from Arizona. Californians purchased 368 Phoenix homes. Buyers from Washington state were third with 146. More people from the Midwest are also investing in the Valley. Residents of Illinois, Minnesota, Wisconsin and Iowa bought a total of 332 homes. Information Market analyst Tom Ruff believes the new makeup signals an important change.

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