Big red warning signs are flashing in the Phoenix housing market.
Inventory is now up 467% from its pandemic low three years ago.
And just hit the highest level in a decade.
There's a mass selloff occurring, as pandemic investors and snowbirds sell out.
Prepare for… pic.twitter.com/d0c41Mxe87
— Nick Gerli (@nickgerli1) April 29, 2025