Phoenix Real Estate in March: Sales up 9%, Inventory up YoY

This is a key distressed market to follow since Phoenix saw a large bubble / bust followed by strong investor buying. Inventory was up year-over-year in March, following fifteen consecutive months of year-over-year declines in Phoenix.  This could be a significant change. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in March were up 8.5% year-over-year. 2) Cash Sales (frequently investors) were down to 24.6% of total sales. 3) Active inventory is now up 3.6% year-over-year.   More inventory (a theme in 2014) - and less......(read more)

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