Phoenix Real Estate in January: Sales up 16%, Inventory down 8%

This is a key housing market to follow since Phoenix saw a large bubble and bust, followed by strong investor buying. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in January were up 15.9% year-over-year. 2) Cash Sales (frequently investors) were down to 27.1% of total sales. 3) Active inventory is now down 7.7% year-over-year.   More inventory (a theme in most of 2014) - and less investor buying - suggested price increases would slow sharply in 2014.  And prices increases did slow in 2014, only increasing 2.4% according to......(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/2lrxeuZ
via IFTTT