As of 3/16/07

This week inventory levels took a 3% jump to 39740 available homes, an increase of just over 1000 homes. We are closing in on the highest available number that I have recorded that was just under 40,000. However, closing rates also continued to increase which kept the market supplies stable in almost all areas.

We had 4323 closings in the previous month. This kept the overall market supply at 9 months.

I continue to believe that we will see an increase in closing activity over the next several months due to seasonal buying, and some pent up buyer demand, as many people are waiting to see if the market has truly “hit the bottom”.

The comparison of current active listing change is based on the previous week’s inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.

Entire MLS (Maricopa and Northern Pinal county), listing inventories are up 3% from last week. Total of 39740 active listings. Based on current rate of closings, about a 9 month supply.

200’s area (Central Phoenix). Listing inventories are up 3% from last week. Total of 5431 active listings. About a 7 ½ month supply.

300’s area (West Valley). Listing inventories are up 3% from last week. Total of 13395 active listings. About a 9 ¼ month supply.

400’s area (NE Valley), Listing inventories are up2% from last week. Total of 6074 active listings. About a 9 month supply.

500’s area (SE Valley), Listing inventories are up 2% from last week. Total of 10422 active listings. About an 8 month supply.

Scottsdale over $1m. Listings inventories are up 2% from last week.

Total of 1304 active listings. About a 16 ¾ month supply.

Scottsdale under $1m. Listing inventories are up 2% from last week. Total of 1956 active listings. About a 7 ¾ month supply.

Paradise Valley. Listing inventories are unchanged from last week. Total of 296 active listings. About a 11 ½ month supply.

As of 2/23/07

Inventories increased by about 1% from last week moving up by 451 homes. We currently have 37959 SFD listings on the market.

The closing rate is starting to pick up. We had 3795 closings in the previous month. The overall available supply dropped to 10 months. Available supply dropped across the board and I expect this trend to continue for the next few months.

The number of homes in the pending category has increased by over 50% since the first week of January. I expect the closing rate to pick up substantially in the next month.

The most stable market over the last several weeks continues to be Scottsdale under $1M, which is sitting at 8 months of supply. By comparison, the overall market is still at 10 months, and the market with the lowest average sale price, the West Valley, is still at 10 ¾ months supply.

The comparison of current active listing change is based on the previous week’s inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.

Entire MLS (Maricopa and Northern Pinal county), listing inventories are up 1% from last week. Total of 37959 active listings. Based on current rate of closings, about a 10 month supply.

200’s area (Central Phoenix). Listing inventories are up 2% from last week. Total of 5170 active listings. About a 9 month supply.

300’s area (West Valley). Listing inventories are up 1% from last week. Total of 12708 active listings. About a 10 ¾ month supply.

400’s area (NE Valley), Listing inventories are up 1% from last week. Total of 5866 active listings. About a 8 ½ month supply.

500’s area (SE Valley), Listing inventories are up 1% from last week. Total of 9996 active listings. About an 8 ½ month supply.

Scottsdale over $1m. Listings inventories are up 1% from last week.

Total of 1250 active listings. About a 17 ½ month supply.

Scottsdale under $1m. Listing inventories are up 1% from last week. Total of 1886 active listings. About an 8 month supply.

Paradise Valley. Listing inventories are down 1% from last week. Total of 296 active listings. About a 27 month supply.