Real Estate Market Update - August 21

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

After two and a half months of a deteriorating trend, this table is starting to move in the opposite direction again. We have 3 cities that moved in a direction favorable to sellers, up from 2 last week.

Gilbert is the latest recruit to the green camp.

The average CMI change in these 17 cities over the last month was -3.3%, less negative than last week when we measured -5.0%.

Buckeye is bucking the trend and has overtaken Goodyear as predicted. Cave Creek is bouncing back having been one the earliest to decline several months ago.

Most negative is Fountain Hills, a former superstar and number one. However it remains a strong seller's market with a CMI over 200. 15 out of 17 are sellers markets with Maricopa and Queen Creek in the balanced zone.