by Calculated Risk on 4/07/2014 02:59:00 PM

From housing economist Tom Lawler:

ARMLS reported that residential home sales by realtors in the Greater Phoenix, Arizona area totaled 6,712 in March, down 17.7% from last March’s pace. Lender-owned properties were 6.9% of last month’s sales, down from 11.6% last March, while last month’s short-sales share was 5.1%, down from 15.1% a year ago. All-cash transactions were 33.1% of last month’s sales, down from 41.5% last March. Active listings in March totaled 29,939, up 0.9% from February and up 44.4% from a year ago. The median home sales price last month was $187,000, up 11.6% from last March. Last month’s sales were the lowest for a March since 2008.

Residential Home Sales, Greater Phoenix Area, ARMLS
	Mar-11	Mar-12	Mar-13	Mar-14
Number of Sales by Type
Lender owned	4,589	1,872	948	462
Short sales	1,889	2,275	1,233	339
"Non-distressed" sales	3,455	4,722	5,972	5,911
Total sales	9,933	8,869	8,153	6,712
Share of Sales by Type (and All-Cash Share)
Lender owned	46.2%	21.1%	11.6%	6.9%
Short sales	19.0%	25.7%	15.1%	5.1%
Non-distressed	34.8%	53.2%	73.2%	88.1%
All-cash	49.8%	47.6%	41.5%	33.1%

Click on graph for larger image.

This graph from Tom Lawler shows the active inventory in the Phoenix area. As Tom noted, listings are way up - but also way below the "bust" years.