The last few weeks have continued to tilt hard toward sellers. Demand is picking up across most segments while inventory keeps shrinking.
Just like last week green circles are overwhelming red ones by a 15 to 3 margin. The average CMI change over the past month is now up 10.1 percent. That is a noticeable jump from 8.6 percent last week.
The strongest shifts toward sellers are in Peoria Gilbert Queen Creek Tempe Goodyear Fountain Hills Chandler Cave Creek Phoenix and Glendale. The only three cities not showing a clear monthly move toward sellers are Paradise Valley Surprise and Avondale and even there the improvement for buyers is minimal.
We now have nine cities solidly in seller territory including the three largest markets Phoenix Scottsdale and Mesa. That puts half of our 18 major cities in seller markets. The rest break down into three balanced and six still favoring buyers.
Only six large cities remain below a CMI of 100. Overall this picture is far more seller-friendly than we expected just a month ago.
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