Sunday, July 19, 2020

Phoenix Real Estate in June: Sales up 2% YoY, Active Inventory Down 23% YoY

by Calculated Risk on 7/19/2020 08:11:00 AM

The Arizona Regional Multiple Listing Service (ARMLS) reports ("Stats Report"):

1) Overall sales were at 9,508 in June, up from 6,860 in May, and up from 9,313 in June 2019. Sales were up 38.6% from May 2020 (last month), and up 2.1% from June 2019.

2) Active inventory was at 8,792 down from 11,418 in June 2019. That is down 23% year-over-year.

3) Months of supply decreased to 1.51 in June, down from 2.46 in May. This remains low.

Sales are reported at the close of escrow, so these sales were mostly signed in April and May.  As expected, sales rebounded in June.