AZ Business Magazine
Led by Phoenix home sales, last month’s home sales posted the highest year-over-year gain for January in 11 years, increasing an average of 10.5 percent in the 54 metro areas covered by the RE/MAX National Housing Report for January 2020
Meanwhile, the 15.6 percent year-over-year drop in inventory was the largest decline since May 2017 and marked the seventh consecutive month of year-over-year shrinkage in the number of U.S. homes for sale.
Key highlights of the report include:
• Home sales in Phoenix continued to soar with a nearly 20% increase year-over-year.
• Inventory remains extremely constricted with the months supply steadily decreasing since January 2019.
• Home sellers in Phoenix continue to enjoy favorable conditions with a steady rise in median sales price and decrease in the number of days on market.
