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News Article From: 11-14-2006


Resale Listings




Real-time Information


ARMLS compiles monthly data for reports to be release on about the 15th of each month.  In this rapidly changing market, utilizing only the Arizona Regional Monthly Listing Service (ARMLS) Sales Reports has the potential of delaying the timely identification of changes in the market.   You need to know what has happened since those reports were compiled to assess if there were any trends developing in late September and early October.  The chart below is a perfect example of the value of this Real-time information.



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As you can see from the graph below, the listing rate has been gradually declining for the last few months.  Note that the listing total is almost flat for the period from mid-September to mid-October, while for the month prior it increased by about 1,000.  The following graphs clearly illustrate that decrease in the rate of growth.





Resale Listings August 17, 2005 – October 16, 2006


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The graphs below and above were compiled using daily figures of Internet MLS listings.  The quantities do not exactly match ARMLS Report numbers, because a few ARMLS members exclude their listings from the Internet, but the patterns of the two sources are very similar.  Because the actual numbers differ slightly, these graphs have been designed to show no quantities on the vertical scale.




Resale Listing Numbers


The ten-month graph below is also based on a real-time representation of what is happening in the listing arena. 




Listing Trend November 9, 2005 – October 16, 2006



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Resale listings growth rate has basically gone flat.  These numbers indicate that the market may be at or near the peak in the quantity of resale listings.  However, even if that is true, there is still a significant over supply of inventory, and it will take a good number of months before we see a return to a more normal market.



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