For Buyers:


Greater Phoenix has a population of approximately 4.8 million people and 1.4 million single family homes, condos and townhomes in total inventory.  As of July 8th, only 8,579 of these units were available for sale through the Arizona Regional MLS.  If that...

The market is becoming so lop-sided it is approaching absurdity. Demand has recovered and is now close to normal in most areas. The bizarre situation is all to do with supply.  New listings remain stubbornly low, especially in the price ranges that are most popular wit...

Listings under contract continue to accumulate as buyers write up contracts for the diminishing supply of homes for sale.

Note how 2020 followed a very similar track to 2018 until mid-March. Contract activity fell sharply but stabilized during April and then recovered a...

For Buyers:


Greater Phoenix contract activity dropped 39% over the course of 6 weeks  between March and mid-April.  The effects of those declines are now being reported over a month later as a 31% decline in closed sales.  This is not surprising, you can’t close what w...

The ARMLS database shows a 27% fall in closed listings for April compared with April 2019. This is for all dwelling types across Greater Phoenix. If we segment the market we can see how different segments fell by different amounts:

We can see that mobile and manufacture...

Over the last week we have moved from a daily fall of 2.5 to a daily fall of 1.6. This trend is favorable and it now looks unlikely that the CMI* will drop into the balanced zone of 90 to 110 any time soon.

This is because active listings are starting to fall while list...