In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Wednesday, December 18, 2019

Phoenix Real Estate in November: Sales up 7.0% YoY, Active Inventory Down 20.7% YoY

by Calculated Risk on 12/18/2019 02:15:00 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 6,974 in November, down from 7,848 in October, and up from 6,515 in November 2018. Sales were down 11.1% from October 2019 (last month), and up 7.0% from November 2018.

2) Active inventory was at 13,675, down from 18,162 in November 2018. That is down 24.7% year-over-year.

3) Months of supply increased to 2.49 months in November from 2.35 months in October. This remains relatively low.

This is another market with increasing sales and falling inventory.