Instead of comparing the “hot and not” real estate markets in metro Phoenix in the second half of 2013, let’s look at what I think will be the big story for 2014, the increase in the number of homes for sale.

The list below was created by The Cromford Report.

Comparing the days of inventory now (February 2) with 12 months ago shows us which major cities have seen the greatest growth in single family supply versus demand.

Growth in Days of Inventory by Major City in Metro Phoenix

[table width=”600″ colwidth=”175|170|45|210″ colalign=”left|right|left”]
,,,
,Feb14 vs Feb13,,
1) Peoria,109 vs 61,,Up 79%
2) Glendale,91 vs 51,,Up 78%
3) Gilbert,101 vs 59,,Up 71%
4) Avondale,93 vs 59,,Up 58%
5) Tempe,90 vs 57,,Up 58%
6) Phoenix,102 vs 66,,Up 55%
7) Chandler,85 vs 57,,Up 49%
8) Mesa,100 vs 69,,Up 45%
9) Scottsdale,180 vs 130,,Up 38%
10) Goodyear,122 vs 96,,Up 27%
11) Queen Creek,113 vs 94,,Up 20%
13) Surprise,120 vs 101,,Up 19%
[/table]

Oversupply?

Of course, all of those cities had an unusually low number of homes for sale a year ago (which caused the rapid price increases in the first half of 2013).

Just because they now have a lot more homes for sale doesn’t necessarily mean they now have an oversupply of homes. And, in fact, homes are NOT in oversupply in metro Phoenix as a whole. I haven’t looked at the cities individually… yet.

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