We've been closely monitoring Under Contracts (the current number of listings under contract) as the best real time indicator of the local markets recovery from the consequences of the 'lock-down'.
Looking at this past week's chart:
Week 21 of 2020 - 11,666 transactions Under Contract
Week 22 of 2019 - 11,945 transactions Under Contract
Because this is such a positive indicator, it's like a contest, where the 'fun' is seeing if we can reach or surpass 2019 in Under Contract listings.
Adding to the drama: Historically about this time we begin to see a seasonal decline in the Under Contract curve, as nature turns up the heat. Can we do it? Stay tuned!
We speculate that the pandemic is doing 2 things - pushing our high season forward and increasing the inmigration numbers, as Arizona becomes an even more popular place to call home.
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