From Michael Orr at the Cromford Report: The short supply of homes for sale in the Phoenix area is getting more severe.
March 29 – The supply shortage is getting increasingly severe as new listings are now being added to ARMLS at the slowest seasonal rate since the current ARMLS database began in 2000. This new chart illustrates the trend. Note that January and February listings are well down compared with the same month last year. Note also that with only 2 days left to go in March we are going to be substantially down on both 2010 and 2011. In fact it already is certain to come in at the lowest level for any March in the last 13 years.