Note: I’m tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year. Remember sales were weak in April 2020 due to the pandemic, so the YoY sales comparison is easy.
The Arizona Regional Multiple Listing Service (ARMLS) reports (“Stats Report”):
1) Overall sales were at 9,476 in April, up 36.8% from 6,925 in April 2020.
2) Active inventory was at 4,541, down 67.3% from 13,889 in April 2020.
3) Months of supply decreased to 0.96 in April from 2.59 in April 2020. This is very low.
Inventory in April was up 3.6% from last month.