The Phoenix real estate market is experiencing significant changes, with the number of homes listed for sale in the Phoenix MLS showing a notable increase. As of recent data, the inventory of single-family homes for sale in Phoenix is up 44% compared to a year ago. This increase is unusual for this time of year, suggesting a potential inflection point. Weekly updates indicate that inventory is up 1.7% week-over-week and 36.0% year-over-year. Additionally, the BTIG/HomeSphere Homebuilder Survey reports that 35% of respondents saw year-over-year sales increases last month, a decline from previous months. The share of newly built homes for sale has nearly doubled compared to pre-pandemic levels, now accounting for one in three homes on the market. Despite muted existing-home sales, the increased listings might prompt more sales activity. Notably, the number of houses listed for sale increased by 2.6% in two weeks, and April 2024 saw significant market activity.
The share of houses for sale that are brand new is hovering at a level that’s nearly double the pre-pandemic rate. That's because homebuilding has shot up and the supply of existing homes for sale has dropped. #housing https://t.co/T6B2abnRJc
#RealEstate sentiment at decadal high in first quarter of 2024 https://t.co/oaLgKsSEdr
New homes account for one in three homes for sale: Redfin : The share of newly built homes has nearly doubled compared to the pre-pandemic rate https://t.co/K7u8KpsFLe
Quick Summary of the Phoenix Real Estate Market in April 2024 https://t.co/KRfmNiUGhW https://t.co/qJEgmlzFZ3
Existing-home sales remain muted, but more listings on the market than a year ago could prompt more sales activity. Read more about this in the blog! https://t.co/alKHcOQzwn
Housing May 20th Weekly Update: Inventory up 1.7% Week-over-week, Up 36.0% Year-over-year https://t.co/jfauG84zI6 https://t.co/BLYaTH7t3t
The number of Phoenix single-family homes for sale in the MLS is up 44% from a year ago. https://t.co/XkkQLxnz28 https://t.co/0T6ldN16pu
Can we say the number of houses listed for sale in the Phoenix MLS is skyrocketing? Up 2.6% in 2 weeks (at a time of year it usually falls). Might have been an inflection point 2 weeks ago. https://t.co/M6YjPXGiBH
According to the BTIG/HomeSphere Homebuilder Survey, last month, 35% of 136 respondents reported year-over-year increases in sales, down from 41% in March and 31% in April 2023. https://t.co/l2ai0i9l4V
The number of homes listed for sale in the Phoenix MLS is looking a lot like 2018. https://t.co/FgwG41IiAn
Where people in Phoenix are looking to buy homes https://t.co/KeU3MnyjHB https://t.co/VpWGzOgPEs