News Article From: 04-20-2006
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3rd Issue of April 2006
Area New Homes Market Status and Statistics
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We have recently redirected the focus of this Market Status and Statistics article towards more specific current changes. The format and information continue to encompass data history and trends; however, you will notice the shortening of timeframes in the graphs.
Subdivision Count
Now at 795 subdivisions, there are 124 more than four months ago. Only one year ago in April of 2005, we recorded the lowest quantity of active subdivisions in at least the last five years at 471. During the twelve months since then, a total of 324 subdivisions have been added to the count. The number of subdivisions continues to steadily grow, and the market is headed toward the record set in May 2003 of 813. We expect to exceed 800 subdivisions before next week!
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Spec Count
Currently, there are 3,313 spec homes, 1,271 more than four months ago. The spec count has grown seven and a half times over since the lowest level (377) experienced a year ago in April of 2005. The market now has 913 inventory units over the previous record count (2,400) prior to January 2006. We expect see in excess of 3,400 spec inventory homes by next week as the count continues to climb.
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New Home Market Statistics Chart
The following chart shows historical activity for the last year in the greater Phoenix Metropolitan area per the Ultimate New Homes Database:
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