Cooling of the market between September 1 and October 1

We can see the cooling of the market between September 1 and October 1 in the greater Phoenix area in the months of supply for single family homes by price range:

Price Range Oct 2012 Sep 2013 Oct 2013 Comments
Under $100K 2.3 1.8 2.2 Slowed a lot in the last month, but similar to last year
$100K-$125K 2.2 1.5 2.3 Slowed a lot in the last month, but similar to last year
$125K-$150K 2.5 1.9 2.6 Slowed a lot in the last month, but similar to last year
$150K-$175K 2.9 2.0 2.8 Slowed a lot in the last month, but similar to last year
$175K-$200K 2.7 2.4 2.8 Slowed a lot in the last month, but similar to last year
$200K-$225K 3.2 2.3 2.9 Slowed a lot in the last month, less inventory than last year
$225K-$250K 3.3 2.3 3.1 Slowed a lot in the last month, less inventory than last year
$250K-$275K 3.3 2.4 3.2 Slowed a lot in the last month, but similar to last year
$275K-$300K 3.3 2.8 3.3 Slowed a lot in the last month, but similar to last year
$300K-$350K 3.5 3.3 3.8 Slowed a lot in the last month, more inventory than last year
$350K-$400K 3.8 3.7 4.5 Slowed a lot in the last month, more inventory than last year
$400K-$500K 4.4 3.8 4.8 Slowed a lot in the last month, more inventory than last year
$500K-$600K 6.6 5.0 5.2 Slowed only slightly, less inventory than last year
$600K-$800K 7.2 6.3 6.6 Slowed only slightly, less inventory than last year
$800K-$1M 9.5 6.2 11.2 Slowed a lot, more inventory than last year
$1M-$1.5M 9.2 8.6 12.3 Slowed a lot, more inventory than last year
$1.5M-$2M 24.6 8.4 14.9 Slowed a lot, less inventory than last year
$2M-$3M 38.6 27.7 19.0 Speeded up, a lot less inventory than last year
Over $3M 41.0 34.0 65.0 Slowed a lot, more inventory than last year

The weakest sectors compared with last year are between $300K and $500K and the strongest are between $500K and $800K. This is probably because of the greater availability of jumbo loans.

The sectors over $800K have much more volatile inventory measures because sales rates bounce around from month to month.