Since the beginning of this year, the active listing count has increased by 2,324, representing an 11.9% rise. This growth rate surpasses the 8.1% increase seen during the same period last year, and it builds upon a base of 19,460 compared to 14,593 in 2024. These figures indicate that the supply of

December’s headline job growth figure, released on Friday, suggests a robust labor market, though it is subject to revision in subsequent reports. The initial data showed strength in multiple areas, including increases in both full-time and part-time employment after declines in November. However, t

This week marks a notable improvement in the real estate market for sellers compared to the previous month. Data from the Cromford® Market Index (CMI) reveals that 15 major cities have experienced an increase in their index over the past month, while only 2 have shown a decline. This positive shift

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 sel

The Federal Reserve implemented its third interest rate cut of 2024 on Wednesday, reducing its benchmark rate by 0.25 points. However, this adjustment did not translate into a decrease in mortgage rates. Instead, the 30-year fixed-rate mortgage spiked to 6.72% for the week ending December 19, accord

At a median sales price of $371,090, Pinal County’s housing market has experienced a decline of just over 8% from its peak of $405,000, which was reached during the second quarter of 2022. The majority of this drop occurred between June 2022 and February 2023. Since the first quarter of 2023, prices

The November affidavits of value for Maricopa County have been tallied, providing an insightful overview of the real estate market's performance. The month saw 5,393 closed transactions, marking a 10.4% increase compared to November 2023's 4,887 but a 12.3% decline from October 2024. Among these tra

The contract ratio for all areas and property types has fallen below 30, indicating a notable cooling in the real estate market. Currently, at 29.6, this is the lowest contract ratio recorded since April 2009, a period marked by significant market challenges. This sharp decline highlights a shift in

  Over the past month, six large cities have shown an increase in their Cromford® Market Index (CMI), continuing the trend observed last week. The average change in CMI across all cities is a decline of 4.2%, which is a slight improvement compared to the 4.8% decline seen the previous week. While th

Over the past month, six large cities have shown an increase in their Cromford® Market Index (CMI), marking an improvement from last week when only five cities were trending upward. Avondale's shift in direction accounts for the rise of additional cities. Meanwhile, the average change in CMI over th

In 2024, the active listing trend has taken an unusual and unexpected turn, visible in a recent spike in available listings. Represented in light blue, the 2024 trend line reveals a sharp jump over the last two days, with listings approaching the 22,000 mark. This sudden increase has pushed 2024's l

Over the past eight months, the real estate market has increasingly turned against sellers, who might instinctively attribute this shift to weakened buyer demand and persistently high interest rates. However, the primary cause of this change appears to be an increasing supply of available properties

The mortgage rate news has been unfavorable over the past week, with the typical 30-year fixed rate climbing to approximately 6.91% today from 6.68% last week. This increase brings rates back up to the levels observed in late July, marking a significant rise that could impact housing affordability a

The Listing Success Rate is one of the most revealing and reliable indicators of the housing market's health, yet it is seldom measured except by the Cromford Report. In stark contrast, the average days on the market is a comparatively dull and meaningless statistic, though it is measured and report

The brief surge in demand observed during September is beginning to wane, with the number of listings under contract now somewhat lower than in late September. Meanwhile, active supply continues to grow in line with seasonal patterns. This gradual increase in inventory is slowly shifting negotiation

In September 2024, Maricopa County's real estate market witnessed a noticeable decline in closed transactions for single-family homes and townhouses/condos, as revealed by the recently analyzed affidavits of value. The total number of closed transactions stood at 5,584, marking a decrease of 5.3% fr

The latest S&P/Case-Shiller Home Price Index numbers were published this Tuesday, offering valuable insights into the housing market across 20 major U.S. cities. This index is a key indicator for economists, investors, and policymakers, as it reflects trends in home prices that can influence economi

Over the past two weeks, the negative trend in the housing market has not only continued but also gained momentum. Buyers are steadily acquiring more negotiation power, although this shift remains mild and is primarily concentrated within the lower and middle price ranges. This development indicates

As anticipated, Paradise Valley continues to dominate the luxury real estate market, consistently topping performance charts and widening its lead over Scottsdale over the past three years. Paradise Valley and Scottsdale have experienced an impressive 8.5% year-over-year increase, the highest percen

The analysis of Maricopa County's real estate market for August reveals some significant trends and fluctuations compared to previous periods. In August, there were 5,936 closed transactions, a decrease of 9.0% from 6,556 in the same month of the previous year, and a 6.2% decline from July's figures