Phoenix Real Estate in July: Sales down 2%, Inventory up 3% YoY

This is a key housing market to follow since Phoenix saw a large bubble / bust followed by strong investor buying. Inventory was up 3.3% year-over-year in July.  This is the fifth consecutive months with a YoY increase in inventory, following fifteen consecutive months of YoY declines in Phoenix.  This could be a significant change. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in June were down 1.8% year-over-year. 2) Cash Sales (frequently investors) were down to 19.7% of total sales. 3) Active inventory is now up 3.3%......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web http://ift.tt/2bel1Cc
via IFTTT