Here is a great article recently published in the Wall Street Journal.
In June, Phoenix had the strongest resale activity in six years, helping to lift total sales from the year-ago month when federal tax credits were boosting the market. There were about 10,500 sales of new and existing houses and condos during June in the metro area covering Maricopa and Pinal counties, up 8.3% from May and 1.5% from June of last year, according to DataQuick, the real-estate research company based in San Diego. Since 1994, when DataQuick began fully tracking Phoenix, sales have risen 1.8% on average from May to June.
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