Real Estate Market Update - April 15 2024

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

The average change in CMI over the past month is +0.3%, up from zero last week. The picture is remarkably mixed with some locations improving sharply for sellers over the last months and other deteriorating badly,

We have 10 cities showing an increase in their Cromford® Market Index over the past month, while 7 have declined. This is the same as last week.

Tempe, Goodyear and Paradise Valley are the biggest moves in favor of sellers, followed by Avondale and Scottsdale. Fountain Hills, Queen Creek, Cave Creek and Buckeye are the primary locations moving in favor of buyers, with Peoria just behind. Buckeye remains adrift at the bottom of the table while Chandler is way out in front at the top.

10 out of 17 cities are seller's markets. We have 3 cities that are balanced, while 4 are buyer's markets. This mix is unchanged from last week.