Phoenix Real Estate in March: Sales Up 14% YoY, Active Inventory Down 69% YoY

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

1) Overall sales were at 9,806 in March, up 13.7% from 8,626 in March 2020.

2) Active inventory was at 4,383, down 69.3% from 14,257 in March 2020.

3) Months of supply decreased to 0.92 in March from 2.11 in March 2020. This is very low.

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