November 17 Real Estate Market Update

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

There was an average decline of 16.1% in the Cromford® Market Index for the 17 cities above. This is slightly less bad than the 16.3% decline we saw last week.

Well above average declines in CMI can be seen in Cave Creek, Buckeye, Mesa, Scottsdale, Glendale, Paradise Valley, Surprise and Phoenix. The slowest declines are to be found in Goodyear and Tempe. In fact Goodyear has started to see its CMI rise over the past week.

10 out of 17 cities are still sellers markets with Peoria and Cave Creek in the balanced zone while Surprise, Buckeye, Goodyear, Queen Creek and Maricopa are all buyers' markets. Maricopa and Queen Creek are below the 80 level and Buckeye has dropped below 70.