Phoenix Real Estate in June: Sales down 3%, Active Inventory down 10% YoY – Info Risk Manage

by Bill McBride on 7/18/2018 03:49:00 PM

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 June were down 3.3% year-over-year.

2) Active inventory is down 10.4% year-over-year.  This is the smallest decrease this year.  In some cities, it appears the inventory decline might be ending, but not yet in Phoenix.

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

June Residential and Inventory, Greater Phoenix Area, ARMLS
  Sales YoY Change Active
Inventory
YoY Change
Jun-13 8,228 15,752
Jun-14 7,219 -12.3% 24,462 55.3%
Jun-15 8,674 20.2% 19,596 -19.9%
Jun-16 8,861 2.2% 20,138 2.8%
Jun-17 9,391 6.0% 17,682 -12.2%
Jun-18 9,079 -3.3% 15,851 -10.4%

Article Prepared by Ollala Corp

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