Here is what’s going on in the Metro Phoenix housing market. Two things stand out to me: the number of homes sold in June and the number of homes under contract at the beginning of July. Both numbers are down significantly from last month and this time last year. These stats confirm conversations I have had with other agents who are not getting many showings, which means there are just not many buyers out there looking at homes at this time. This is typical when temperatures in Arizona reach the 110-degree mark. The supply/demand ratio fell again, and it is not so much a problem of too much inventory as it is of too few homes under contract. For the second month in a row, the average sale price, the total dollar volume, and the price per square foot fell. I expect that trend to continue, as July is historically the month with the biggest decline in home prices in the Metro Phoenix Area.