Over the last week the market has shifted hard in favor of sellers. Demand is up, supply is dropping faster than it normally does this time of year, and the numbers show it. We’re sitting at 15 green cities and only 3 red, with Scottsdale and San Tan Valley both flipping from red to green since last week.
CMI movement is accelerating too. The average change over the last month is +6.4 percent, up from +3.6 percent just a week ago.
Fountain Hills and Chandler are still leading for sellers, but Queen Creek, Peoria, Maricopa and Tempe all jumped more than 10 percent. On the flip side, Paradise Valley still favors buyers over the past month, but even PV improved for sellers when you only look at the last seven days. The other buyer-leaning cities softened only slightly, at three percent or less. Avondale also reversed course this week, and Surprise is now the only city still trending toward buyers.
The biggest positive sign this week: even the three weakest cities are now moving solidly toward sellers.
Right now the breakdown sits at 8 seller’s markets, 4 balanced markets, and 6 buyer’s markets.
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