Phoenix Real Estate in January: Sales up 18.1% YoY, Active Inventory Down 38.9% 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 were at 6,328 in January, down from 7,585 in December, but up from 5,357 in January 2019. Sales were down 16.6% from December 2019 (last month), but up 18.1% from January 2019 . 2) Active inventory was at 11,602, down from 18,990 in January 2019. That is down 38.9% year-over-year . 3) Months of supply increased to 2.54 in January from 2.05 months in December. This remains low. This is ......(read more)

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