Phoenix Real Estate in May: Sales up 3%, Active Inventory down 16% YoY - InvestingChannel

Phoenix Real Estate in May: Sales up 3%, Active Inventory down 16% YoY

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”, table below):

1) Overall sales in May were up 2.8% year-over-year.

2) Active inventory is down 15.5% year-over-year.  In some cities, it appears the inventory decline might be ending, but not yet in Phoenix.

This is the nineteenth consecutive month with a YoY decrease in inventory.

May Residential Sales and Inventory, Greater Phoenix Area, ARMLS
  Sales YoY Change Active
Inventory
YoY Change
12-May 8,435 12,932
13-May 8,754 3.8% 15,517 20.0%
14-May 7,659 -12.5% 26,245 69.1%
15-May 8,319 8.6% 21,569 -17.8%
16-May 8,676 4.3% 18,975 -12.0%
17-May 9,641 11.1% 18,688 -1.5%
18-May 9,913 2.8% 15,795 -15.5%

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