by Calculated Risk on 6/18/2018 01:02:00 PM
Monday, June 18, 2018
This is a key housing market to follow since Phoenix saw a large bubble / bust followed by strong investor buying.
The Arizona Regional Multiple Listing Service (ARMLS) reports ("Stats Report", table below):
1) Overall sales in May were up 2.8% year-over-year.
2) Active inventory is down 15.5% year-over-year. In some cities, it appears the inventory decline might be ending, but not yet in Phoenix.
This is the nineteenth consecutive month with a YoY decrease in inventory.
|May Residential Sales and Inventory, Greater Phoenix Area, ARMLS|