The six month speculative home inventory count is now at 3,631 units, 263 less than six months ago. The speculative count appears to be stabilizing. This number is still over 50% greater than the previous record of 2,400 (prior to January 2006) by 1,231. The speculative home market is those homes built by developers that do not have any interest in purchasing that home prior to it being built.
The speculative data being gathered for this report are the individual properties which each subdivision chooses to report that is an affiliate of the Arizona Multiple Listing Service. The degree of completion will vary from builder to builder and from one subdivision to another. It's believe the is conservative, as some subdivisions do not report all of their speculative homes currently on the market.
The six month subdivision count is currently at 1,082, there are 4 less subdivisions than six months ago. The number of new home subdivisions seems to be stabilizing as well.
Overall this is a good news story for the Valley of the Sun. For more about the home market go to MarketWatch.JeffDaley.com