Phoenix Real Estate in July: Sales up 7% YoY, Active Inventory down 8% 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 ("Stats Report", table below): 1) Overall sales in July were up 6.7% year-over-year. 2) Active inventory is down 8.0% year-over-year.  This is the smallest YoY decrease in almost two years.  In some cities, it appears the inventory decline might be ending, but not yet in Phoenix. This is the twenty-first consecutive month with a YoY decrease in inventory in Phoenix. July Residential Sales and ......(read more)

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