Wednesday, May 16, 2018

Phoenix Real Estate in April: Sales down 9% or up 4%?

by Bill McBride on 5/16/2018 04:03:00 PM

Yesterday I reported that sales in Phoenix were down 9% in April compared to April 2017. This was based on the monthly ARMLS Market Report.

Housing economist Tom Lawler pointed out that the Stat report, also from the ARMLS, shows April sales were up 3.7% year-over-year! Quite a difference.

On inventory, the Market report showed inventory down 25.7% year-over-year, and the Stat report showed inventory only down 9.9% year-over-year. Another huge difference.

I'm trying to understand why the two reports are so different (I've always used the Market Report).

The bottom line is sales in Phoenix on a year-over-year basis were either down 9% or up 3.7%. And inventory was either down 25.7% or down 9.9%.