New non-distressed SFR listings in Scottsdale increased about 25% from Jan-July 2012 to Jan-July 2013.
However, net new SFR listings overall in Scottsdale only increased about 5% because new distressed listings were falling fast while new NON-distressed listings were rising fast.
Next year new distressed listings will be so low they won’t really be able to fall much anymore.
If new non-distressed listings continue increasing at around 25% next year (very possible), the number of net new SFR listings in Scottsdale overall could also increase by about 25% because they won’t be offset by falling numbers of new distressed listings.
The inventory of SFR homes listed for sale in Scottsdale could be back to 2011 levels by this time next year and price increases would be much less next year… all other things being equal. :)
I reserve the right to change my mind after lunch.
ADDED
Scottsdale New SFR Listings Jan-Jul 2012 versus Jan-Jul 2013
Excludes homes under contract. Click graph to enlarge.
[table width=”175″ colwidth=”50|50″ colalign=”left|right”]
Normal,+28%
Distressed,-67%
TOTAL,+5%
[/table]
ADDED LATER
Scottsdale AZ – Total Active Single Family Listings Inventory
Excludes homes under contract. Click graph to enlarge.
See the same style analysis for Chandler, Arizona.
See also Gilbert AZ.