Once again, here is our table of Cromford® Market Index* values for the single-family markets in the 17 largest cities as of August 20, 2020.

The number of red dots has doubled since last week with Tempe joining Maricopa as a cooling market. They remain extremely hot, s...

For Buyers:


It’s a jungle out there for buyers, but despite recent appreciation rates the HOI* measure for Greater Phoenix increased to 64.8 for the 2nd Quarter 2020; the previous measure was 63.0. This means that a household making the current median family income of...

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...

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...

Among single-family listings there has been a 7% decline in listings under contract between April 1 and May 1. This is the opposite of last year when we saw a 7% increase. Obviously the difference between this year and last year was primarily caused by the COVID-19 pan...

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...

...active supply was counted at just over 12,000 listings for all of Greater Phoenix.  This is down 32% from this time last year and excruciatingly low.

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Wow! 17% Spike in Contracts over $600K in August 34% of Homes Closed Over Asking Price

September 15, 2020

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