Canadians and Californians Leaving Arizona Market?

From the Cromford Report:  Demand is down almost everywhere but it is particularly down hard compared with last year for our two biggest out-of-state buyer groups - Californians and Canadians.

• Californians only purchased 295 single family and townhouse/condo homes in Maricopa County during June which is 34% less than in June 2013
• Canadians only purchased 126 homes which is down 33%

The decline is even more dramatic if we go back two years or more.

Overall out-of-state purchases dropped by 16% over the last 12 months so the fall is more than twice as large among our best customer groups. However in-state purchases only declined by 5% so it seems that Arizona's attractiveness to out of state residents has take a significant hit over the past 12 months.