Friday, May 17, 2019

Phoenix Real Estate in April: Sales up 6% YoY, Active Inventory up 7% YoY

by Calculated Risk on 5/17/2019 08:55:00 AM

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"):

1) Overall sales increased to 9,493 in April, up from 8,990 in April 2018. Sales were up 13.8% from March 2019 (last month), and up 5.6% from April 2018.

2) Active inventory was at 17,804, up from 16,568 in April 2018. That is up 7.5% year-over-year.  This is the sixth consecutive month with a YoY increase in active inventory.

The last six months - with a YoY increase - followed twenty-four consecutive months with a YoY decrease in inventory in Phoenix.

Months of supply decreased from 2.78 in March to 2.43 in April. This is still low.