Closed home sales increased in Maricopa County last month, according to the latest Market Update from Phoenix REALTORS®.

Although pending home sales decreased 26%, closings rose 12.5% in November, with 3,317 homes sold. In comparison, 2,948 homes were sold in November 2023.

Days on market rose 25.5%, with the typical home taking 64 days to sell, up from 51 days a year prior.

Inventory, meanwhile, jumped 35.5% year over year, with 13,950 total properties on the market, up from 10,312. Given the current rate of sales, it would take about 3.8 months for every home on the market to sell. In November 2023, Maricopa County had a 2.7-month supply.