Dece​mber inventory tightens in improving markets…

January 1 – A large number of listings expire on December 31 each year so it is normal to see the active listing counts drop suddenly on January 1. This year we see the active listing count excluding AWC/UCB across all areas and types drop 3.0% from 17,651 to 17,121. If we include AWC/UCB we saw a fall of 3.8%. These are larger falls than last year when we saw 2.3% and 2.1% respectively. This is to be expected as we have a higher proportion of normal listings and these more frequently expire on December 31 compared with short sales and REOs..

Some areas have seen a much larger fall in active listings than others over the last few weeks, and some have seen an increase. The areas with a steep decline in active single family listings – excluding AWC/UC – from December 1 to January 1 include:

  • Phoenix 85003
  • Phoenix 85006
  • Phoenix 85008
  • Phoenix 85014
  • Phoenix 85015
  • Phoenix 85016
  • Phoenix 85018
  • Phoenix 85020
  • Phoenix 85022
  • Phoenix 85024
  • Phoenix 85027
  • Phoenix 85028
  • Phoenix 85032
  • Phoenix 85044
  • Phoenix 85045
  • Phoenix 85048
  • Phoenix 85050
  • Phoenix 85085
  • Apache Junction 85119
  • Casa Grande 85122
  • Mesa 85203
  • Mesa 85207
  • Mesa 85208
  • Chandler 85224
  • Gilbert 85233
  • Gilbert 85234
  • Scottsdale 85254
  • Scottsdale 85255
  • Scottsdale 85260
  • Gilbert 85297
  • Glendale 85302
  • Glendale 85308
  • Peoria 85345
  • Surprise 85388
  • Avondale 85392

We can assume that the market is improving in these areas.

Those ZIP codes where the number of active single family listings – excluding AWC/UC – has increased significantly from December 1 to January 1 include:

  • Phoenix 85009
  • Phoenix 85017
  • Phoenix 85019
  • Phoenix 85029
  • Phoenix 85033
  • Phoenix 85035
  • Phoenix 85037
  • Phoenix 85040
  • Gold Canyon 85118
  • Arizona City 85123
  • Eloy 85131
  • Casa Grande 85194
  • Tempe 86282
  • Tempe 85284
  • Waddell 85355
  • Sun City 85373
  • Wickenburg 85390

The market is looking weaker in these areas.
 
More supply has been released in West Phoenix while supply in North and East Phoenix is getting tighter.

Courtesy of the Cromford Report

H/T – Mike Balzotti, Phd.

 

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