Changing up the color coding this week – so many ZIP codes are past “recovery” and in to “Seller’s Market!” that I’m abandoning the red-for-bad and green-for-good color scheme in favor of gray shading.
Gray shaded boxes show ZIPs that are recovered (i.e. no longer the extremely strong buyer’s market that has prevailed in metro Phoenix for what feels like the past 374 years). These gray shaded ZIPs are seller’s markets.
- Seller’s Market: less than 6 months’ supply on the market
- Buyer’s Market: more than 6 months’ supply on the market
Check back tomorrow for charts that break down the sellers’ vs. buyers’ market by price range. It’s a completely segmented market out there for the past couple of months with some price bands recovered, some are a silly-ridiculous strong sellers’ market, and some have several decades of homes for sale.