Note: I’m tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year.
The Arizona Regional Multiple Listing Service (ARMLS) reports (“Stats Report”):
1) Overall sales were at 8,715 in July, down 15.4% from 10,303 in July 2020.
2) Active inventory was at 6,746, down 15.8% from 8,010 in July 2020.
3) Months of supply decreased to 1.24 in July from 1.26 in July 2020. This is low.
Inventory in July was up 15.0% from last month, and up 63% from the record low in February 2021.