Is Phoenix inventory rising or falling?

In the Phoenix-Mesa-Chandler area, the number of homes for sale is going up. There are more homes available now compared to this time last year. Right now, there are 18,437 active listings. This shows a noticeable increase of 7.5% compared to the number of homes on the market over the past year. Even with more homes for sale, new homes coming onto the market have also gone up. There were 7,322 new listings, which is 3.6% more than the year before. The median listing price is holding steady at $475,000, unchanged from the previous month. However, it is down 4.8% compared to the same time last year. If you are looking to buy, more homes on the market gives you more choices and potentially a bit more breathing room to make a decision.