Phoenix Real Estate in May: Sales Up 11.4%, Inventory DOWN 15% Year-over-year

This is a key distressed market to follow since Phoenix saw a large bubble / bust followed by strong investor buying.  These key markets hopefully show us changes in trends for sales and inventory. For the sixth consecutive month, inventory was down year-over-year in Phoenix. This is a significant change from last year. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in May were up 11.4% year-over-year. 2) Cash Sales (frequently investors) were down to 24.0% of total sales. 3) Active inventory is now down 15.4% year-over-year.  ......(read more)

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