by Calculated Risk on 7/16/2019 05:36:00 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"):

1) Overall sales increased to 9,313 in June, up from 9,079 in June 2018. Sales were down 9.9% from May 2019 (last month), and up 2.6% from June 2018.

2) Active inventory was at 15,188, down from 15,851 in June 2018. That is down 4.2% year-over-year.  This YoY decline in inventory follows seven consecutive months with a YoY increase in active inventory.

Months of supply increased from 2.07 in May to 2.12 in June. This is low.