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.

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