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May ARMLS Reports

Resale Listings

The listing count reported in the May Arizona Regional Multiple Listing Service (ARMLS¹).  Reports, which were released on June 15^th, was 39,902—down 4,263 listings from the April reports.  In March the listing quantity dropped below 50,000 for the first time in 27 months.  The declining trend has continued, taking the count to less than 40,000 for the first time in three years. However, this current level remains substantially above the record level of listings prior to January 2005 which was 30,046 listings in February 2003. 

Resale Sales

ARMLS-reported sales for May rose 8% from the April sales figure with an increase of 720.  On an annually adjusted basis sales were up 3,647 or almost 65% from May 2008.  This is the twelfth consecutive month that there has been an increase in sales over the same month in the prior year. 

May’s sales quantity typically rises a little from April’s, so this month’s change is following the normal calendar cycle.  In the normal calendar cycle, sales tend to be highest in the summer and then gradually taper off over the next few months before resuming the climb during the first quarter of each year.  The winter months are consistently the lowest in sales.

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Our sources of data for these displays are the ARMLS reports.  In these, there are three months, January – March 2005, for which we have not shown listing data because of apparent discrepancies.  Additionally, ARMLS notes that the listing information for March through August 2002 may contain errors, but we have chosen to display this reasonable data above.

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¹ (ARMLS) Arizona Regional Multiple Listing Service empasses most of Maricopa and Pinal Counties.

Note:  This report was prepared utilizing numbers from an adjusted August 2008 report published by ARMLS after the distribution of the August In-Depth Analysis Newsletter.  In all cases the impact of these adjusted numbers is less than 1%.