March 20 - Market Index Update

Here is our latest table of Cromford® Market Index values for the single-family markets in the 17 largest cities

(Less than 80 is a buyer's market, 80-120 is a balanced market, over 120 is a seller's market)

The market continues to improve for sellers with the average CMI up 11.0% over the last month. This increase is slowly decelerating, having been 12.6% last week.

Looking especially strong are Gilbert, Chandler and Peoria . These are all up over 20% from 4 weeks ago.

Still doing relatively poorly are Paradise Valley and Tempe.

Demand is stable and no longer growing very fast, but supply is low and is falling at a faster rate.

Among the secondary cities, Arizona City, Casa Grande, Litchfield Park, Sun City and Sun City West are weakening for sellers, while Apache Junction, El Mirage, Gold Canyon, Laveen and Tolleson are improving fastest.