Is Phoenix inventory rising or falling?

In Phoenix, the number of homes for sale is rising right now. There are more choices for buyers compared to the same time last year. Specifically, there are 17,707 active listings available. This is a 5.2% increase in inventory compared to the same period last year. This means potential buyers have more homes to choose from. Even with more homes on the market, newly listed properties are not increasing at the same pace. New listings are up only slightly, by 0.6% compared to a year ago. This suggests that while overall inventory is up, the flow of brand-new homes hitting the market is relatively stable. Homes are also selling a bit faster than they were. The median time a home spends on the market is 67 days, which is 4.3% less time compared to the previous year. This quicker sale time might indicate continued interest from buyers despite the increased inventory. For someone looking to buy a home in Phoenix, this increase in active listings gives you more options to consider. This might give you a bit more breathing room to find the right property.