Phoenix Real Estate in February: Sales up 8%, Inventory down 12% 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 February were up 7.7% year-over-year (including homes, condos and manufactured homes). 2) Active inventory is now down 12.1% year-over-year.   More inventory (a theme in most of 2014) - and less investor buying - suggested price increases would slow in 2014.  And prices increases did slow in 2014, only increasing 2.4% according to Case-Shiller. In 2015, with ......(read more)

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