The Phoenix Housing Market is mirroring many housing markets across the country.  With low inventory, fewer sales, and increasing prices..  The main photo for this post clearly illustrates that supply level declines are a real issue in Phoenix.   Inventory dropped 37% year over year in Phoenix as of September 24, 2023. These charts are provided by subscription to the Cromford Report.   The current supply of homes available for sale in Phoenix is fewer than 2019 levels!  Inventory has increased slightly,  coinciding with the rise in interest rates.  Those on the sidelines, thanks to interest rate increases, will be back once rates drop but in competition with many other buyers.   The number of days it takes to sell a home increased sharply beginning April 2022, but has been on the declin... 09/28/2023