Sunday , February 17 2019
Home / Calculated Risk / Phoenix Real Estate in December: Sales down 9% YoY, Active Inventory up 6% YoY

Phoenix Real Estate in December: Sales down 9% YoY, Active Inventory up 6% YoY

Summary:
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 6,403 from 7,070 in December 2017. Sales were down 1.7% from November, and down 9.4% from December 2017.2) Active inventory was at 18,049, up from 17,017 in December 2017. This is up 6.1% year-over-year.  This is the second consecutive month with a YoY increase in active inventory.The last two months - with a YoY increase - followed twenty-four consecutive months with a YoY decrease in inventory in Phoenix.Months of supply decreased from 3.30 in November to 3.23 in December. This is still low.

Topics:
Bill McBride considers the following as important:

This could be interesting, too:

Yves Smith writes Even More on “Is CalPERS Private Equity Architect John Cole So Clueless He Doesn’t Know He’s Lying?”

Marc Chandler writes Dollar Bulls may Turn Cautious

Barry Ritholtz writes 10 Sunday Reads

Lambert Strether writes Links 2/17/19

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 6,403 from 7,070 in December 2017. Sales were down 1.7% from November, and down 9.4% from December 2017.

2) Active inventory was at 18,049, up from 17,017 in December 2017. This is up 6.1% year-over-year.  This is the second consecutive month with a YoY increase in active inventory.

The last two months - with a YoY increase - followed twenty-four consecutive months with a YoY decrease in inventory in Phoenix.

Months of supply decreased from 3.30 in November to 3.23 in December. This is still low.
Bill McBride
A full time blogger, Mr. McBride retired as a senior executive from a small public company in the '90s. Mr. McBride holds an MBA from the University of California, Irvine, and has a background in management, finance and economics.

Leave a Reply

Your email address will not be published. Required fields are marked *