Metro Phoenix Arizona -- Inventory Trend -- Courtesy ARMLS® 2013
Courtesy of the Arizona Regional Multiple Listing Service (ARMLS), are two charts that illustrate the real estate inventory trends in Metro Phoenix Arizona.
The first chart illustrates the trend in New Inventory:
Chart Courtesy Arizona Regional Multiple Listing Service (ARMLS® 2013)
At the end of August, 2013 the New Inventory is up 2.2% year-over-year, and up 7.2% month-over-month.
The second chart illustrates the trend in Total Inventory:
Chart Courtesy Arizona Regional Multiple Listing Service (ARMLS® 2013)
At the end of August, 2013 the Total Inventory is up 2.1% year-over-year, and up 6.6% month-over-month.
My observations: after a persistent decline in Total Inventory (which coincided with a rebound in the local real estate market), the inventory levels have begun to move higher. While it is too early to know if this trend will continue over a longer-term timeframe, it is certainly worth monitoring -- given the recent increase in interest rates.
I will update this data on a monthly basis, as it received from ARMLS.
Metro Phoenix Arizona -- Inventory Trend -- Courtesy ARMLS® 2013
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