Tuesday, December 12, 2006

Daily Market Analysis

I thought I might share what I've found over the past few weeks pertaining to the overall condition of the Phoenix market. A few times per week I pull data from our MLS and take a big picture look at the trends in our market. One thing that I've been noticing is the number of listing in our MLS is declining for the first time since about this time last year. Jan '06 we had a total of about 23,000 "Active" homes for sale in our MLS database. We got as high as about 47,500 and are now at about 44,500. In the grand scheme of things our market is still very saturated, and this may just be a seasonal adjustment that we are seeing, but it's certainly good news to see the market get a little bit of a break from the steady increase in inventory we had been seeing all year; even if it's short-lived and Jan '07 brings us more and more inventory.