Valleywide, all dwellings

Actives: 53,003

Unsold: 50,224

Under Contract in the Last 30 Days: 2,779 (5% of actives)

Valleywide, single family dwellings

Actives: 43,482

Unsold: 41,192

Under Contract in the Last 30 Days: 2,290 (5% of actives)

Valleywide, luxury homes

Actives: 3,020

Unsold: 2,898

Under Contract in the Last 30 Days: 122 (4% of actives)

East Valley, all dwellings

Actives: 18,218

Unsold: 17,118

Under Contract in the Last 30 Days: 1,100 (6% of actives)

Analysis

Lots of changes in the Phoenix housing inventory in 2008, when compared to December 2007.  Valleywide, inventory is down by almost 6%, but the number of homes under contract over the last 30 days is down too.  This is still good news, though.  The number of active listings reduced by a greater percentage than the number of homes under contract did.  This means that more homes are selling than coming onto the market.  In fact, in the Phoenix luxury home market, the percentage of homes under contact in the last 30 days actually rose.  Apparently, the luxury home market decided not to follow the rest of the crowd this past holiday season!