Monday, December 14, 2020

Phoenix Real Estate in November: Sales Up 27.4% YoY, Active Inventory Down 45% YoY

by Calculated Risk on 12/14/2020 01:37:00 PM

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

1) Overall sales were at 8,886 in November, down from 9,690 in October, and up from 6,974 in November 2019. Sales were down 8.3% from October 2020 (last month), and up 27.4% from November 2019.

2) Active inventory was at 7,564, down from 13,675 in November 2019. That is down 45% year-over-year.

3) Months of supply decreased to 1.40 in November from 1.41 in October. This is very low.

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