Sunday, January 19, 2020

Phoenix Real Estate in December: Sales up 18.5% YoY, Active Inventory Down 31.2% YoY

by Calculated Risk on 1/19/2020 09:51:00 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 were at 7,585 in December, up from 6,974 in November, and up from 6,403 in December 2018. Sales were up 8.8%% from November 2019 (last month), and up 18.5% from December 2018.

2) Active inventory was at 12,425, down from 18,089 in December 2018. That is down 31.2% year-over-year.

3) Months of supply decreased to 2.05 in December from 2.49 months in November. This remains relatively low.

This is another market with increasing sales and falling inventory.