Phoenix real estate sales up 6% in May; inventory up

By Bill McBride | CalculatedRISK

This is a key distressed market to follow since Phoenix saw a large bubble / bust followed by strong investor buying.

Inventory was up 5.5% year-over-year in May. This is the third consecutive months with a YoY increase in inventory, following fifteen consecutive months of YoY declines in Phoenix. This could be a significant change.

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