Arizona Regional Multiple Listing Service June Sales

Larger view: armls-chart

Single family home sales across the Phoenix Valley area continued its gradual climb for the month of June.  5,476 single family homes were closed this past month, up from 5,333 units for the month of May.  Total inventory (homes available for sale on the MLS) was 50,224, down 259 units from the previous month. At the current pace of buying in the Valley we have just over 9 months of inventory still available.  The average market time was just about 100 days.

 

Interesting notes:

 

The year over year difference in the number of home sales for the month of June looks positive.  Last year’s sales for June were 4,991, while this year was 5,476.  As June tends to mark the month we start to slow down for the year, I am eagerly awaiting July’s numbers to see if we can keep up the momentum!

 

Just about a fifth of last month’s home buyers paid in cash.  Are investors, along with Californian and Canadian buyers continuing to take advantage of lower home prices (while some local would be long term home buyers wait for the “bottom”)?

If you have any questions about the real estate market in the Phoenix metro area, or anywhere in Maricopa or Pinal counties, please contact me.  Nathan@ezlistaz.com, 480-529-6329.