Market Strength by City....Still HOT, but cooling down a bit for sellers.

Once again we show the Cromford® Market Index table for the single-family markets in the 17 largest cities:

Only 5 cities improved for sellers over the past month, 3 of them in the Northeast Valley. Once again Paradise Valley and Scottsdale were the biggest gainers.

Avondale has regained its place at the head of the table despite losing 1%. The Southeast Valley has lost the dominance it held in the early part of the year, with Tempe (down 14%) and Gilbert (down 8%) the biggest decliners. Only Mesa remains above 200 although it went backwards by 2%. Chandler managed a 1% advance.

All 17 cities remain seller's markets, but 12 out of the 17 weakened for sellers.

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The Cromford Market Index (CMI) is an accurate short-term predictor of market strength.

Essentially a measure of demand relative to supply, where a balanced market = a score of 100.

Less than 100 is the degree to which supply is outpacing demand (buyers market).

More than 100 is the degree to which demand is outpacing supply (sellers market).

Red arrow down = month-over-month trend favors buyers.

Green arrow up = month-over-month trend favors sellers. 

We are seeing a strengthening of the upper-end markets. 

As I've suggested before, in the 'ebb and flow' of markets it's nice to have it 'flowing' in our wheelhouse, particularly in places like Cave Creek and by extension hopefully Carefree as well, though Carefree's small size keeps it off the Cromford Index radar.