1st Issue of July 2009
Current New Homes
Market
6-Month Spec
Count
The spec inventory count is now at 1,573 units, 916 less than six months
ago. The spec count has dropped
significantly in the past five weeks.
It has dropped below the historical (before the current market
conditions) record number of 2,400.
What we count as specs are the individual properties which 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 very conservative, as some subdivisions do not
report all of their specs to us.
6-Month Subdivision Count
Now at 620, there are 205 less
subdivisions than six months ago.
The number of new home subdivisions continues to decline.
The subdivision count data we report comes from the Ultimate New
Homes (UNH) database, which covers the entire Phoenix metro market area
and approximates the area covered by the Arizona Regional Multiple Listing
Service (ARMLS). Ultimate New Homes covers all of Maricopa County (74% of
UNH subs) and significant portions of Pinal County (23% of UNH
subs) as well as a few locations outside of these counties (primarily
in Yavapai County) (3% of UNH subs).
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 very
comprehensive relative to tract construction of single family detached
homes. In addition to new attached homes, a few selected condo
conversions are also included within the UNH system.
New Home
Market Statistics Chart
The following chart shows the
last six months new home activity measures for the greater Phoenix Metropolitan
area per the Ultimate New Homes
Database:
*The data above reflects numbers from every other week for the past six
months.
Copyright¨ 2009 - This information is compiled and written by Ultimate
Information Systems, Inc. Use of this article, in part or in its entirety,
is expressly prohibited without written permission. Click
here to request limited rights to reuse this information.