Phoenix real estate in March: Sales down 11% YoY, active inventory up 9% YoY

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Calculated Risk

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 declined to 8,344 in March, from 9,402 in March 2018. Sales were UP 30.2% from February 2019, but down 11.3% from March 2018.

2) Active inventory was at 18,182, up from 16,645 in March 2018. This is up 9.2% year-over-year.  This is the fifth consecutive month with a YoY increase in active inventory.

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