Compared to June 2021, active inventory increased in 40 of the 50 largest U.S. metros, led by Austin, Texas, Phoenix and Raleigh, N.C. 

Remmers left in December for Retsy but chose to come back to Walt Danley as executive vice president, business development.

The latest S&P CoreLogic Case-Shiller Index was released today. What does it show about Phoenix real estate?

The biggest influx of new residents to Arizona comes from California. More than 17% of people leaving the Golden State relocate to Arizona.

The increase ends a six-month string of monthly declines, the National Association of REALTORS® said.

New-home inventory rose to 444,000 homes in May from 437,000 homes in April, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.  

Meanwhile, existing-home sales slid 3.4% from April to a seasonally adjusted annual rate of 5.41 million, according to the National Association of REALTORS®. 

Phoenix was second on the list with 1,232 iBuyer home sales in the first quarter, accounting for 5.2% of home sales in the market.

Nationwide, sales fell 8.5% annually and rose 5.8% monthly, as rising interest rates and home prices weighed on homebuyers’ purchasing power, RE/MAX said.

New-home completions rose during the month, however, with the increased inventory representing a rare bright spot in an otherwise gloomy government report.