Phoenix Real Estate in May: Sales up 4% YoY, Active Inventory up 3% 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 increased to 10,341 in May, up from 9,913 in May 2018. Sales were up 8.9% from April 2019 (last month), and up 4.3% from May 2018. 2) Active inventory was at 16,260, up from 15,795 in May 2018. That is up 2.9% year-over-year.  This is the seventh consecutive month with a YoY increase in active inventory. The last seven months - with a YoY increase - followed twenty-four......(read more)

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