Weekly Inventory Level comparison
©2008 Karl Stauffer
As of Friday, 3/28/08
Since February 1st, less than 2 months ago, the Valley wide supply of homes has gone from a 19 1/4 month supply to a 12 1/2 month supply. This has been driven by an over 50% increase in closed sales in that short time. Depspite what we are being told by the media, things are getting much better. I expect this trend of improvement to continue.
Closes in the previous month continue to improve and were up to 3663, moving us a to a supply Valley wide of 12 1/2 months, another improvement over the previous week. Total listings were unchanged at 46172.
All areas of the Valley continue to improve. In the battle for the best markets in the Valley, the SE Valley stays the clear leader at a 10 1/4 month supply. Scottsdale under $1M is at 12 1/2 months in second.
Luxury Markets continue to improve at 25 3/4 months of supply in Scottsdale $1M+, and 29 1/4 months in Paradise Valley