Phoenix Real Estate Snapshot for February 19, 2015
February 19 – For most locations in the Valley there are fewer active listings (excluding homes under contract) and more listings under contract than on February 19, 2014. This means that supply is down and demand is up compared with last year. This is good news for sellers and a warning signal for buyers.
Here are the changes for the major cities:
|City||Change in Supply||Change in Demand||Contract Ratio|
©2015 Cromford Associates LLC
Supply numbers are still weaker than last year at this time, so the market is shaping up quite nicely for sellers as long as they are patient. If the current trends continue and spread through more market segments, then we could see prices regain a little upward momentum later in the year.