News Article From: 08-02-2006
The listing rate has remained relatively constant to this point. Averaging a little over 500 new listings per week, the pace of new listings has slowed slightly since the last newsletter. The total number of listings mid-July have exceeded mid-June by just short of 2,000, compared to a growth of 3,000 last month. The following graphs clearly illustrate the steady climb.
ARMLS compiles monthly data to release reports 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 July
Resale Listings July 26, 2005 – July 26, 2006
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 six-month trend line in the graph below is also based on a real-time representation of what is happening in the listing arena.
Listing Trend November 9, 2005 – July 26, 2006
Resale listings continue to grow. Hovering at around 580 additional listings per week during late July, the rate is still less than what it was in June and early July. A situation began developing about the first of July which is noteworthy. The rate of increase in additional listings has moderated slightly (see the right hand side of the graph), but noticeably. It is not yet clear whether this is an indication that a peak in listings is approaching, or just a summer moderation.