Monday, October 21, 2019

Phoenix Real Estate in September: Sales up 13.8% YoY, Active Inventory Down 16.3% YoY

by Calculated Risk on 10/21/2019 03:18:00 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 were at 7,850 in September, down from 8,726 in August, but up from 6,897 in September 2018. Sales were down 10.0% from August 2019 (last month), and up 13.8% from September 2018.

2) Active inventory was at 13,936, down from 16,643 in September 2018. That is down 16.3% year-over-year.

3) Months of supply increased to 2.27 months in September from 2.00 months in August. This is low.

This is another market with increasing sales and falling inventory.