Valley sees nation’s biggest drop in housing inventory.


By Jeff Gifford | Phoenix Business Journal

As the Valley’s housing market continues to heat up, inventory is dropping, prices are rising and homes are selling faster than they were a year ago.

The Phoenix area experienced the nation’s sharpest drop in housing inventory during February compared with a year earlier, according to data released by that also reveals tightening housing markets and higher prices across the country.

The Valley’s February inventory was 42.7% below that of February 2019, and the median price was up 14.3% to $400,000, according to the report.


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