Single-Family Home Supply Dramatically Down from December 2018 in Many Areas

Single-family supply is down dramatically from this time last year in most locations. Counting active listings without a contract here is what we find:

Gilbert - down 50% from 615 to 307
Glendale - down 46% from 574 to 310
Mesa - down 45% from 985 to 539
Chandler - down 40% from 502 to 299
Avondale - down 39% from 147 to 90
Phoenix - down 38% from 3,034 to 1,876
Peoria - down 36% from 637 to 407
Queen Creek - down 33% from 725 to 484
Tempe - down 32% from 195 to 133
Surprise - down 32% from 630 to 429
Goodyear - down 27% from 445 to 325
Cave Creek - down 26% from to 225 to 167
Scottsdale - down 24% from 1,689 to 1,276
Fountain Hills - down 20% from 227 to 181
Buckeye - down 14% from 456 to 392
Paradise Valley - down 14% from 308 to 265
Maricopa - down 11% from 310 to 277

The real test will come in January when we see which ramps up faster from the low point of January 1, 2020 - will it be active listings or the under contract counts. Comparing these 2 numbers using the contract ratio will give us a good forecast of how the sporing selling season will turn out. At the moment it looks as though sellers will be firmly in control.