Wednesday, July 18, 2018

Phoenix Real Estate in June: Sales down 3%, Active Inventory down 10% YoY

by Bill McBride on 7/18/2018 03:49:00 PM

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 June were down 3.3% year-over-year.

2) Active inventory is down 10.4% year-over-year.  This is the smallest YoY decrease this year.  In some cities, it appears the inventory decline might be ending, but not yet in Phoenix.

This is the twentieth consecutive month with a YoY decrease in inventory.

June Residential Sales and Inventory, Greater Phoenix Area, ARMLS
  SalesYoY ChangeActive
Inventory
YoY Change
Jun-138,228---15,752---
Jun-147,219-12.3%24,46255.3%
Jun-158,67420.2%19,596-19.9%
Jun-168,8612.2%20,1382.8%
Jun-179,3916.0%17,682-12.2%
Jun-189,079-3.3%15,851-10.4%