For Buyers: New listings activated in June were down 10.0% compared to last June and overall supply has dropped 9.5% in 4 weeks, putting it below last year’s count for the first time all year. Buyers have gotten used to very little supply under $200K but now they’re feeling it hard between $200K-$250K, where new listings were down a whopping 15.1%. Trying to fill the gap, brand new town home/condo sales have been strongest between $200K-$250K with a median size of 1,362sf. The top two builders that have sold the highest number of condos in this price range this year are Lennar in Gilbert and DR Horton in Mesa. Other competing developers building multi-family between $200K-$250K include B
The months of May and June 2019 were both exceptionally strong, especially considering the market was looking wobbly back in January. Let us start with the basics - the ARMLS numbers for July 1, 2019 compared with July 1, 2018 for all areas & types: Active Listings (excluding UCB & CCBS): 15,442 versus 16,101 last year - down 4.1% - and down 8.5% from 16,869 last month Active Listings (including UCB & CCBS): 20,030 versus 20,464 last year - down 2.1% - and down 8.1% compared with 21,799 last month Pending Listings: 6,642 versus 6,092 last year - up 9.0% - but down 5.3% from 7,015 last month Under Contract Listings (including Pending, CCBS & UCB): 11,230 versus 10,455 last year - up 7.4% - bu
