4th Issue of
January 2007
Current New Homes Market
6-Month Spec Count
The spec inventory count is now at 4,417 units, 224 less than six
months ago. Though the spec count has
continued to drop in the past few weeks, the market is still almost double the
previous record of 2,400 (prior to January 2006) by 2,017.
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 964, there are 64 more subdivisions than six months ago. Nine months
ago the subdivision count exceeded the previous record of 813 set in May 2003,
though 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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