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 Balanced, and over 120 is a Seller's Market)

The era of leadership by the Northeast Valley is clearly over and the Southeast Valley, Central Valley and West Valley are all now taking over the market leadership role.

Chandler has overtaken Fountain Hills to take the number one spot, though the market in Fountain Hills is faring much better than the rest of its Northeastern neighbors.

Paradise Valley has plummeted from almost 170 in mid-January to 133 now, moving significantly in favor of buyers.

Most cities have moved strongly in favor of sellers, particularly Glendale, Gilbert, Avondale, Phoenix, Queen Creek, Peoria, Goodyear, Mesa, Tempe and Chandler. As a result prices are now starting to climb again, marking the end of the correction that started roughly 8 month ago.

We still have 3 cities in a buyer's market, with 2 in balance and 12 in a seller's market