I really like the STAT report that ARMLS puts out each month, it does a great job of showing where the market is and shows some indication of where it is going. The July 2012 STAT report is public so anyone can read it.
Some of the highlights that I want to point out:
- June sales jumped up 8.1% to a total of 9,129, representing the fourth highest month over month gain out of the last twelve months.
- New inventory, (9,271) remained relatively flat for the fourth month in a row, showing no monthly gain over May. June’s new inventory figure is 10.9% below the June 2011 new inventory figure.
- Total months supply of inventory declined for the fifth month in a row to a Valley wide MSI of 2.18. MSIs at the very low two month level have not been seen since September 2005 (2.14 MSI) at the height of Valley’s real estate buying frenzy.
Follow the link to check out all the details and some great graphs to go with it.