Tuesday, November 17, 2020

Phoenix Real Estate in October: Sales Up 23.5% YoY, Active Inventory Down 42% YoY

by Calculated Risk on 11/17/2020 04:32:00 PM

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

1) Overall sales were at 9,690 in October, up from 9,305 in September, and up from 7,850 in October 2019. Sales were up 4.1% from September 2020 (last month), and up 23.5% from October 2019.

2) Active inventory was at 8,343, down from 14,427 in October 2019. That is down 42% year-over-year.

3) Months of supply decreased to 1.41 in October from 1.48 in September. This is very low.

Sales are reported at the close of escrow, so these sales were mostly signed in August and September.