by Calculated Risk on 9/18/2018 05:16:00 PM
Tuesday, September 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 August were down 0.9% year-over-year.
2) Active inventory is down 7.8% year-over-year. This is the smallest YoY decrease in almost two years. In many cities, it appears the inventory decline might be ending, but not yet in Phoenix.
This is the twenty-second consecutive month with a YoY decrease in inventory in Phoenix.
|August Residential Sales and Inventory, Greater Phoenix Area, ARMLS|