Dataquick came out with their December data for Phoenix home sales. Phoenix residential real estate sales continued their upward trend. The number of houses and condos sold has increased on an annual basis for 18 months in a row now (excludes new homes).

New home sales, however, were absolutely terrible in December.

The number of newly built homes sold in December dropped nearly 25 percent compared with November, and fell 17.5 percent from a year earlier. Builders… sold the least number of homes for a December since 1997.

The dismal new home sales in December is contributing to worries about a possible double dip recession.