East Valley housing stock gets gloomier by the day

Maracay has closed on this piece of land east of Ellsworth Road between Ray and Williams Field roads, Mesa, with an eye toward completing 127 single-family homes by next year and completing the residential phase of the 464-acre Cadence at Gateway, master-planned community. / East Valley Tribune

By Paul Maryniak | East Valley Tribune

The year started bad for homebuyers in the East Valley and it didn’t take long to get worse.

So said the Cromford Report, which closely analyzes the Valley’s housing market.

It reported two weeks ago while Maricopa County is welcoming new residents by the thousands, active listings of homes are down by 30 percent from where they were when 2019 began.

Last week, Cromford had even more distressing news for buyers looking in the East Valley, stating while the Valley barely held onto the pattern of having more homes listed by Jan. 15, than there were on Jan. 1 of any year, “significant segments of the market have broken the rules and reported lower active counts on Jan. 15 than on Jan. 1.”

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