Phoenix Real Estate in November: Sales down 8% YoY, Active Inventory up slightly 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"): 1) Overall sales declined to 6,515 from 7,074 in November 2017. Sales were down 9.3% from October (report has a typo and says "up"), and down 7.9% from November 2017. 2) Active inventory was at 18,162, up slightly from 18,118 in November 2017.   This is up 0.2% year-over-year.  This is the YoY increase in active inventory since 2016. This small YoY increase followed......(read more)

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