4th Issue of November
2006
Current New Homes Market
6-Month Spec Count
The spec inventory count is now at 4,603 units, 967 more than only six
months ago. The market has nearly
doubled the previous record of 2,400 (prior to January 2006) by 2,203, though
we have seen the spec count drop off slightly in the past couple weeks.
What we count as specs are the
individual properties that each subdivision chooses to report to us to be
included in our system for ARMLS affiliates. The degree of completion will
vary from builder to builder and from one subdivision to another. We believe our count is on the conservative
side, as some subdivisions do not report all of their specs to us.
6-Month Subdivision
Count
Now at 977, there are 152 more subdivisions than six
months ago. Three and a half months ago the subdivision count exceeded the
previous record of 813 set in May 2003. It
appears that the climb in the number of active new home communities may have
ended.
The subdivision count data
we report comes from the Ultimate
New Homes (UNH) database, which covers the entire
The UNH database covers both
single family detached and attached homes. Subdivisions and developments are
included in the UNH database when they:
This database is quite
comprehensive relative to tract construction of single family detached homes.
In addition to new attached homes a few selected condo conversions are included
within the UNH system.
New Home Market
Statistics Chart
The following chart shows historical
activity for the last six months in the greater Phoenix Metropolitan area per
the Ultimate New Homes Database:
*The data above reflects numbers from every other week in the past six
months.
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