The spec inventory count is now at 672 units, 485 less than six months ago.
What we count as specs are the individual properties which each subdivision chooses to report to us to be included in our system for ARMLS affiliates. The degree of completion will vary from builder to builder and from one subdivision to another. We believe our count is very conservative, as some subdivisions do not report all of their specs to us.
6-Month Subdivision Count
Now at 341, the number of subdivisions is 111 less than it was six months ago.
The subdivision count data we report comes from the Ultimate New Homes (UNH) database, which covers the entire Phoenix metro market area and approximates the area covered by the Arizona Regional Multiple Listing Service (ARMLS). Ultimate New Homes covers all of Maricopa County and significant portions of Pinal County as well as a few locations outside of these counties (primarily in Yavapai County).
The UNH database covers both single family detached and attached homes. Subdivisions and developments are included in the UNH database when they:
• Co-broke with Realtors®
• Typically build standardized plans (a tract type product)
• Have at least five lots or homes available for sale in that particular subdivision
• Are willing to provide and update detailed subdivision information
• Have established pricing for the homes within the subdivision
This database is very comprehensive relative to tract construction of single family detached homes. In addition to new attached homes, a few selected condo conversions are also included within the UNH system.