Whether you look in Phoenix or Tucson, by city, zip code, or even price range there is an interesting phenomenon going on at the moment the number of active listings are increasing as is the month-over-month sales.
Arguably this is good for both buyers and sellers–Buyers, because they are finding more choices: sellers, because, generally speaking, prices have started to appreciate (or recover, if you want to think of it that way).
Looking at the above graphs you can see that the longer trend has been the tightening of supply (active listings), with demand (sales) being fairly robust, but frustrating for buyers starved for choices.
It is the increase in inventory with sustained demand that makes this particular market snapshot interesting.
Will the trend continue? It’s hard to say. The holiday season typically puts a damper on buyer and seller motivation. And then there are the post election unknowns. But for now, we see a more balanced, and hopefully sustainable market.
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