Phoenix Real Estate in February: Sales Up 5% YoY, Active Inventory Down 61% YoY

The Arizona Regional Multiple Listing Service (ARMLS) reports (“Stats Report”):

1) Overall sales were at 7,659 in February, up 5.2% from 7,279 in February 2020.

2) Active inventory was at 4,144, down 60.9% from 10,590 in February 2020.

3) Months of supply decreased to 1.14 in February from 2.14 in February 2020. This is very low.

Sales are reported at the close of escrow, so these sales were mostly signed in December and January.