Phoenix Real Estate in September: Sales up slightly, Inventory down 10% YoY

This is a key housing market to follow since Phoenix saw a large bubble / bust followed by strong investor buying. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in September were up 0.9% year-over-year (including homes, condos and manufactured homes). 2) Active inventory is now down 10.4% 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 Case-Shiller. In......(read more)

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