Seller Confidence Grows in Phoenix Real Estate: CMI Rises 6.2% Across 14 Cities

This week marks a notable improvement in the market for sellers compared to last month. Fourteen large cities have reported an increase in their Cromford® Market Index (CMI) over the past month, while only three have experienced a decline. This positive trend highlights a significant shift, with sellers gaining an edge in many areas.

The average change in the CMI over the past month stands at +6.2%, a considerable increase from the +2.9% recorded last week. While this improvement is encouraging, it’s essential to view it in context. Much of the positive momentum is driven by seasonal supply reductions typical of December. Still, this year's 6.2% average improvement surpasses the 2.0% increase observed at the same time last year, offering a reason for optimism.

Several cities have shown remarkable progress, with Tempe, Paradise Valley, Fountain Hills, and Gilbert leading the way with double-digit percentage increases. Chandler and Scottsdale are not far behind, demonstrating strong growth as well. In contrast, Cave Creek, Maricopa, and Surprise remain the only cities failing to show improvement, maintaining a consistent trend.

Currently, the market composition includes nine cities categorized as seller's markets, three as balanced markets, and five as buyer's markets. This distribution reflects the shifting dynamics and continued opportunities for sellers to benefit in an increasingly favorable market environment.

"What you get by achieving your goals is not as important as what you become by achieving your goals."
-Zig Ziglar

Have a great week everyone!