Tuesday, November 19, 2019

Phoenix Real Estate in October: Sales up 9.3% YoY, Active Inventory Down 20.7% YoY

by Calculated Risk on 11/19/2019 04:49:00 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"):

1) Overall sales were at 7,848 in October, from 7,850 in September, and up from 7,182 in October 2018. Sales were essentially unchanged from September 2019 (last month), and up 9.3% from October 2018.

2) Active inventory was at 14,427, down from 18,193 in October 2018. That is down 20.7% year-over-year.

3) Months of supply increased to 2.35 months in October from 2.27 months in September. This is low.

This is another market with increasing sales and falling inventory.