Mike Sunnucks at Phoenix Business Journal reportsl two new reports show inventories of Valley homes growing and sales volumes shrinking.
That includes the high-end home market in Scottsdale, Paradise Valley and Arcadia, according a new analysis by Walt Danley Realty.
There were 2,248 homes list for sale for $500,000 or more in July in the northeast Valley, according to Danley.
That is 27 percent higher than the 1,773 expensive home listings a year ago, according to the real estate firm.
Conversely, demand for homes is down.
