Phoenix Real Estate Market: Not So Good. But be Glad You’re Not In South Florida

 Pin It
by on October 25, 2007

A Wall Street Journal (Online) article today has this to say about the home listing inventory in Florida's Miami-Dade County:

In Miami-Dade County, the supply of condos is enough to last about 57 months at the current sales rate, while the supply of single-family homes is 38 months

Ouch. Makes the current Phoenix home inventory supply of 17.6 months seem not so bad. 

The WSJ article contains a link to a table showing quarterly housing indicators for 28 major markets. The data includes: percent change in housing inventory and prices (year over year), employment outlook and percentage of loan payments 30+ days overdue (Phoenix is below the national average on this one, which surprised me). 

Here's the table, click the link above or the image if your eyesight is as poor as mine…

 

[tags]housing indicators[/tags] 

Like, Tweet, share...

 Pin It

 

Other things you can do...

Search for Homes
Email Updates
RSS

Filed Under: Market Conditions

About the Author
Jay Thompson

I'm a real estate broker in Phoenix, Arizona and the publisher of the Phoenix Real Estate Guy blog. I tend to drive too fast and scream at the University of Texas and Denver Broncos football teams. My two kids are smarter than most adults I know and my wife is simply amazing.

Related posts

Bookmark and promote

The Phoenix Real Estate Guy runs on AgentPress

AgentPress is a specialized WordPress theme for real estate agents and brokers, powered by the industry standard Genesis Framework. With AgentPress on your team, you're empowered to get the most out of WordPress for online marketing.

Genesis provides the secure and search-engine-optimized foundation that powers any successful website. And AgentPress provides the specific listing and lead-generation functionality real estate pros need to succeed.

Find out more about AgentPress here.

Comments

We always appreciate your comments! Phoenix Real Estate Guy uses two commenting systems, Facebook and LiveFyre. LiveFyre is the most robust system (and easy to use!). It allows you to login with Twitter, Facebook, Google+ LinkedIn, OpenId, LiveFyre and as a "Guest". I recommend getting a LiveFyre account, it has some great features (just click the LiveFyre button when you write your comment).

 

BLOG COMMENT POLICY: We respectfully ask that you use your real name (first name only is fine) and not use keywords (Why no keywords?). The only real "comment rules" are be civil -- no personal attacks -- and no advertising. (See the full comment policy here). Opinion and debate are welcome, but attack the idea, not the person.

 

LiveFyre Comments

Comments have been disabled for this post.
Sort: Newest | Oldest
Dru Bloomfield

Jay,

I saw this WSJ article and was very surprised with the Phoenix employment outlook. I'd just finished reviewing Pollack's latest numbers, and while we've dropped from #1 in the nation for job growth in 2005-6, we are sitting at #4 for 2007 year to dayte, which to me seems above average.

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Jay - The Phoenix Re

Dru - Ditto. Phoenix's unemployment rate has been best in class for quite some time. I suspect forecasts for construction related employment are starting to show declines, but other elements of the job market are strong.

I went to Moody's where the WSJ got these outlooks, but $200 for their Phoenix Metro area employment report seemed a little steep...

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Late Night Austin Re

57 months. The last time the real estate market went south did any areas have that much inventory? That just seems insane.

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Dining Room Set

Good that you are in the right place after all! I hope that Anonymous is reading this!

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Maureen Francis

Look! I am in the only market that got a "very weak." I feel special.

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Dru Bloomfield

Jay,

I saw this WSJ article and was very surprised with the Phoenix employment outlook. I'd just finished reviewing Pollack's latest numbers, and while we've dropped from #1 in the nation for job growth in 2005-6, we are sitting at #4 for 2007 year to dayte, which to me seems above average.

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Jay - The Phoenix Re

Dru - Ditto. Phoenix's unemployment rate has been best in class for quite some time. I suspect forecasts for construction related employment are starting to show declines, but other elements of the job market are strong.

I went to Moody's where the WSJ got these outlooks, but $200 for their Phoenix Metro area employment report seemed a little steep...

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Late Night Austin Re

57 months. The last time the real estate market went south did any areas have that much inventory? That just seems insane.

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Dining Room Set

Good that you are in the right place after all! I hope that Anonymous is reading this!

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Maureen Francis

Look! I am in the only market that got a "very weak." I feel special.

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Barry Cox

Ouch that hurts. On a positive note, I saw on the local news tonight that new home sales were up over 4% over last month. A step in the right direction :)

share
  • spam
  • offensive
  • disagree
  • off topic
 Like
Furniture Store

That is a very low rate of sales or a very high rate of construction. Such a situation is bound to bring down prices further.

share
  • spam
  • offensive
  • disagree
  • off topic
 Like

Facebook Comments

 

The ARMLS logo indicates a property listed by a real estate brokerage other than Thompson's Realty.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

Copyright 2012 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Data last updated 2/9/12 2:30 PM PST.

This IDX solution is (c) Diverse Solutions 2012.