Phoenix real estate in July: Sales down 2%, inventory up 3%

By Bill McBride | Calculated RISK

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

Inventory was up 3.3% year-over-year in July. This is the fifth consecutive months with a YoY increase in inventory, following fifteen consecutive months of YoY declines in Phoenix. This could be a significant change.

The Arizona Regional Multiple Listing Service (ARMLS) reports (table below):

Continued:

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