"Arizona's Improving Real Estate Market" Check it out for yourself!!! March Housing Stats

Market Stats brought to you by The Thomas Davis Group of Re/Max Homes and Investments


You're now hearing (via media) about "Our newly-improving real estate market"!...Remember that's information we've been following over the last several months! Public media information about our real estate market often lags 1-2 months after this data!

Our local data cautiously continues to improve!... But always cautiously gauge statistics for seasonal adjustments, affecting economic (& political) changes, and monthly trends, to see more than what's 'on the surface'!

The perspective views below are not a representation of fact, but only considered as professional opinion. Reports are from current, residential MLS information - good through March 31st, 2009... Also showing continued market trends from the last 2 years.
** Compiled information represents MLS residential properties, located within the local MLS region. Information does not reflect raw land, commercial, or multifamily units.


Following the attached reports, in respective order:

Supply & Demand Listings- Another slight decrease in our listings this month. Note - After this, look at the following statistic, which might appear to contradict... See also the possible explanations to follow. Click Here to see Chart

Supply & Demand #of units 'Under Contract', Sold', & 'New' -Again, continuing positive trends!.. Except that "New" listings (vs. overall) increased slightly (see previous). Note - The temporary government-requested moratorium on foreclosures (and some banks continuing to postpone foreclosures) are likely affecting this data. These may make it somewhat "Superficial" regarding what's coming in, and what's going out of our market. This intervention will likely affect data over the coming months as well, for good or bad. Click Here to see Chart

Median Price of properties 'Listed', 'Sold', & 'New Listings'- Continuing slightly downward with our median prices still L... Another negative - the median "New" listing prices have not 'held' (as seasoned listings overall). The "New" listings have slightly declined. This could possibly mean that the older listings are not be reducing prices fast enough to keep up with actual "Sold" price declines. Click Here to see Chart

Months Supply of Inventory -Here's a GREAT piece of data, showing our continued decline in 'Month's Supply of Inventory'! Likely also somewhat superficial, but dramatic enough to hope this is a continuing future trend! Regardless, our 'Month's Supply of Inventory" has decreased from over 1 year in November - to just under 5 months in March! Click Here to see chart

Percent of homes 'Under Contract' -Another amazing increase from last month! From about 5% - up to 15% "under contract" in the last 4 months! Click Here to see Chart

Basic Absorption of homes 'Under Contract' (both old & new) & 'Residual Inventory' - 'Residual Inventory' is decreasing, and 'Under Contract' homes are increasing! 'New' listings are reflecting from data from the 2nd chart above. The number of listings appearing to be volatile. Click Here to see Chart

NOTE - If you're looking for other MLS perimeters to these statistics (ie. specific area(s), property types, or 'wider' perimeters), please feel free to contact us. The Thomas Davis Group of Re/Max Homes and Investments 480-248-9175