Phoenix Real Estate in April: Sales down 9%, Inventory down 26% 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 April were down 9.3% year-over-year (including homes, condos and manufactured homes). 2) Active inventory is now down 25.7% year-over-year.    In some cities, it appears the inventory decline might be ending, but not in Phoenix! This is the eighteenth consecutive month with a YoY decrease in inventory . April Residential Sales and Inventory, Greater Phoenix......(read more)

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