RSS Feed by Calculated Risk on 5/15/2018 03:29:00 PM
Tuesday, May 15, 2018
Phoenix Real Estate in April: Sales down 9%, Inventory down 26% YoY
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 (table below):
1) Overall sales in April were down 9.3% year-over-year (including homes, condos and manufactured homes).
2) Active inventory is now down 25.7% year-over-year. In some cities, it appears the inventory decline might be ending, but not in Phoenix!
This is the eighteenth consecutive month with a YoY decrease in inventory.
| April Residential Sales and Inventory, Greater Phoenix Area, ARMLS | ||||||
|---|---|---|---|---|---|---|
| Sales | YoY Change Sales | Cash | Percent Cash | Inventory | YoY Change | |
| Apr-08 | 4,8751 | --- | 986 | 20.2% | 55,7261 | --- |
| Apr-09 | 8,564 | 75.7% | 3,464 | 40.4% | 44,165 | -20.7% |
| Apr-10 | 9,261 | 8.1% | 3,641 | 39.3% | 41,756 | -5.5% |
| Apr-11 | 9,328 | 0.7% | 4,489 | 48.1% | 34,515 | -17.3% |
| Apr-12 | 8,438 | -9.5% | 4,013 | 47.6% | 21,125 | -38.8% |
| Apr-13 | 8,744 | 3.6% | 3,670 | 42.0% | 20,083 | -4.9% |
| Apr-14 | 7,656 | -12.4% | 2,469 | 32.2% | 29,889 | 48.8% |
| Apr-15 | 8,368 | 9.3% | 2,120 | 25.3% | 25,950 | -13.2% |
| Apr-16 | 8,437 | 0.8% | 2,008 | 23.8% | 27,232 | 4.9% |
| Apr-17 | 8,819 | 4.5% | 1,980 | 22.5% | 24,230 | -11.0% |
| Apr-18 | 8,002 | -9.3% | 1,836 | 22.9% | 18,007 | -25.7% |
| 1 April 2008 does not include manufactured homes, ~100 more | ||||||
