Gilbert’s housing market hit a late-summer slowdown in August, with sales falling and inventory climbing even as home prices remained relatively resilient.
Closed sales in Gilbert fell 6.1% in August compared with a year earlier, while pending sales dropped 39.5%, according to Phoenix Realtors data. At the same time, new listings increased 4.8% and the inventory of homes for sale grew 13.1%.
Sammy Glassman, board president of Phoenix Realtors, said the August results should be viewed against the broader trend for the year, which has been more stable.
