September 1 Real Estate Market Update

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

This week we have 4 cities that moved in a direction favorable to sellers, up from 2 last week. Paradise Valley and Tempe are the new members of the green team.

Even so, the trend downwards is slightly stronger than last week. The average CMI change in these 17 cities over the last month was -2.9%, more negative than last week when we measured -2.7%.

Buckeye is moving higher and has Surprise in its sights. Cave Creek is bouncing back hard, having been one of the earliest to decline several months ago.

Most negative again is Fountain Hills, a former number one. However it remains a seller's market with a CMI over 190. 16 out of 17 are sellers markets with Queen Creek in the balanced zone.

Chandler is also declining fast although it remains out in front by a long way