Phoenix Real Estate in November: Sales up 6%, Inventory down 9%

This is a key distressed market to follow since Phoenix saw a large bubble / bust followed by strong investor buying. For the twelfth 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 November were up 6.5% year-over-year. 2) Cash Sales (frequently investors) were up slightly at 29.1% of total sales. 3) Active inventory is now down 8.8% year-over-year.   More inventory (a theme in 2014) - and less investor buying - suggested price ......(read more)

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