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Phoenix reaching plateau in housing inventory, report says

New home with sold stamped across the for sale sign in yard
Posted at 7:34 AM, Jul 25, 2019
and last updated 2019-07-25 10:37:16-04

PHOENIX — Phoenix is experiencing a plateau in housing inventory, according to an industry report.

The RE/MAX housing report for June shows that the Valley only has a two-month supply of inventory available.

That number has remained unchanged from 2018.

According to Realtor and RE/MAX Professionals owner Nate Martinez, that statistic is affecting affordability in the housing market and creating more competition for first-time buyers.

Read more about the housing market from Phoenix Business Journal.