Todays topic: How's the Market. Thank you to anyone who is brave enough to read this shit. I know reading about market conditions in real estate is SUPER invigorating stuff. I just want to try my best to keep you up to date on market conditions. Now listen, I live in the greater Phoenix area myself, but also work in Pima, Pinal, and Santa Cruz Counties. Typically, we are going to be looking at

Jan 28 - The latest S&P / Case-Shiller® Home Price Index® numbers were published this Tuesday. The new report covers home sales during the period September to November 2024. This means the typical home sale closed in mid October, more than 3 months ago. Please remember that Case-Shiller data is fairly old, even on the day it is released. 5 cities show mildly rising prices but 15 cities went down

Jan 13 - In 4Q 2024, we reached a peak of 22,006 active listings without a contract across all areas & types within the ARMLS database on November 24. This dropped to a low of 19,460 on January 2. Although sellers were helped by the 12% reduction in competition that disappeared between Thanksgiving and New Year, they have little reason to be encouraged by the developments since then. Active listi

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The Cromford® Market Index for all areas & types has managed to claw its way back to 89.6, just under the balanced market zone of 90 to 110. However the underlying trends are still poor for sellers. The main reason for the slight rise in the CMI from its low point of 86.6 (reached in early December) is the drop in supply caused by sellers taking their homes off the market for the holiday season.

August Update Here are the basics - the ARMLS numbers for August 1, 2024 compared with August 1, 2023 for all areas & types: Active Listings (excluding UCB & CCBS): 17,677 versus 11,241 last year - up 55% - but down 3.6% from 18,121 last month Active Listings (including UCB & CCBS): 20,320 versus 13,945 last year - up 46% - but down 3.8% compared with 21,116 last month Pending Listings: 4,44

Daily Update The average change in CMI over the past month is -6.7%, a smaller fall than the -7.2% we saw last week. The rate of decline has changed direction and this is a mildly positive sign for the market. We have 4 cities showing an increase in their Cromford® Market Index over the past month, with Scottsdale joining Avondale, Queen Creek and Maricopa. 13 have declined, so the majority have