While the official numbers from ARMLS will not be out until the 15th, we thank M as always for our early preview of Phoenix home sales. This month it appears that sales are down year-over-year, but only slightly:
Active 53,104
UC 8,304
Sold 5,605
According to ARMLS, 5795 homes sold in May 2007.
Our unofficial inventory stood at 54,705 last month, so inventory has dropped slightly. However, from data I have seen recently I believe that there are a number of lender owned properties that are not being listed, although it is difficult to tell how many unlisted lender properties are actually out there.
M believes that July might be our first year-over-year sales increase in over two years. I think we’ll remain slightly below last year’s levels this summer.
