The Arizona Regional Multiple Listing Service (ARMLS) reports (“Stats Report”):
1) Overall sales were at 8,878 in August, dowm from 10,303 in July, and up from 8,726 in August 2019. Sales were down 13.8% from July 2020 (last month), and up 1.7% from August 2019.
2) Active inventory was at 8,328, down from 13,350 in August 2019. That is down 38% year-over-year.
3) Months of supply increased to 1.52 in August, up from 1.26 in July. This is very low.
Sales are reported at the close of escrow, so these sales were mostly signed in June and July.