Phoenix Real Estate in March: Sales up 3%, Inventory down 13% 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 March were up 3.3% year-over-year (including homes, condos and manufactured homes).

2) Active inventory is now down 12.9% year-over-year. 

This is the seventeenth consecutive month with a YoY decrease in inventory.

March Residential Sales and Inventory, Greater Phoenix Area, ARMLS
	Sales	YoY Change Sales	Cash Sales	Percent Cash	Active Inventory	YoY Change Inventory
Mar-08	4,303	---	822	19.1%	57,0811	---
Mar-09	7,636	77.5%	2,994	39.2%	49,743	-12.9%
Mar-10	8,969	17.5%	3,745	41.8%	42,755	-14.0%
Mar-11	9,927	10.7%	4,946	49.8%	37,632	-12.0%
Mar-12	8,868	-10.7%	4,222	47.6%	21,863	-41.9%
Mar-13	8,146	-8.1%	3,384	41.5%	20,729	-5.2%
Mar-14	6,708	-17.7%	2,222	33.1%	30,167	45.5%
Mar-15	7,884	17.5%	2,172	27.5%	26,623	-11.7%
Mar-16	8,555	8.5%	2,107	24.6%	27,580	3.6%
Mar-17	9,304	8.8%	2,226	23.9%	24,871	-9.8%
Mar-18	9,615	3.3%	2,435	25.3%	21,669	-12.9%
1 March 2008 probably included pending listings

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