The Phoenix Real Estate Market selling season is in full swing this time of year. However, this year the supply of homes in the Phoenix MLS is higher and buying demand is lower. Welcome to month #4 of the Buyer's Market. The market index is at 84.5.
"Cromford Market Indexâ¢ is a value that provides a short term forecast for the balance of the market. It is derived from the trends in pending, active and sold listings compared with historical data over the previous four years in the Phoenix Real Estate Market. Values below 100 indicate a buyerâs market, while values above 100 indicate a sellerâs market. A value of 100 indicates a balanced market."
Active Phoenix MLS Listings and Buyer Demand
Higher homes sales and more listing cancellations in March caused listings to drop very slightly from last month. That being said the current 26,537 listings in the Phoenix Real Estate