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Concurrently, the Colorado River is also in the midst of one of the worst droughts seen in over 1,200 years, and Arizona, California and Nevada agreed last week to collectively conserve 3 million acre-feet of river water through 2026. The story is much the same in the Phoenix metro, which saw active home inventory fall 9.8%
Construction approval is reportedly expected in early 2026. The project should begin in spring 2026. > The addition of a major transportation system, with service across three counties, will include more density in a quarter-mile band closest to station stops. A couple of blocks east is the site of John L. and 106 th Ave.
Estimated opening is 2026. Buyers will likely snap up any home to be within walking distance of the new transportation hubs. The combination of buyers leaving the market, which brings down demand, and the slow but steady increase in new listings has beefed up inventory slightly month-to-month. Inventories improved fractionally.
A builder could also agree to install more bike storage or pay a fee-in-lieu to fund public parking and transportation infrastructure that serves the entire neighborhood. This year’s buying and selling campaign will be marked by increasing inventory (good!), Inventories for condos were little changed from month to month, standing at 0.6
This year saw sharply expanding inventory, up 29% year-on-year nationally (through October; latest data) and 26% YoY across King County (November 2023-November 2024). Economists believe this will likely lead to only a small increase in inventory at the start of 2025 but a welcome boost by spring. That will be the new normal.
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