Feb 2 2016 Market Update

Feb 2 2016 Market Update

The Cromford® Market Index for the single family markets in the largest 17 cities moved over the past month as follows:

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Not a bad looking chart for sellers, though it should be pointed out that most of the good news is packed into Phoenix, Chandler, Tempe and Gilbert. Only the top 8 can be considered seller's markets with another 8 in a balance between buyers and sellers.

The West Valley has not moved much in either direction with Peoria showing the most deterioration and Surprise the biggest improvement.

Paradise Valley has recovered a little ground but remains under the 100 mark, while Scottsdale is going backwards again, along with Fountain Hills and Cave Creek.

The unhappiest sellers can be found in Maricopa which is now far adrift at the bottom of table just as Avondale is way out in front at the top.

February 1st - The census permit counts are a bit late this month but we finally have them for the month of December and therefore the whole of 2015.

There were 1,433 single-family permits issued across Maricopa and Pinal counties, a strong number for December, bringing the 2015 annual total to 16,768. This is up 43% from 2014 and far higher than almost anyone expected at the start of last year. Nevertheless it is still a long way below the numbers throughout the period 1996-2007, when the minimum annual total was 25,352 (2007) and the maximum 55,858 (2004).

Ranking the various permit issuing authorities by the number of permits issued in 2015 we get:

  1. Phoenix 2,237 (up 40%)

  2. Gilbert 1,819 (up 27%)

  3. Mesa 1,708 (up 72%)

  4. Peoria 1,589 (up 59%)

  5. Unincorporated Pinal County 1,384 (up 31%)

  6. Goodyear 1,186 (up 50%)

  7. Chandler 1,157 (up 77%)

  8. Buckeye 1,104 (up 47%)

  9. Queen Creek 987 (up 42%)

  10. Scottsdale 869 (up 35%)

  11. Unincorporated Maricopa County 826 (up 26%)

  12. Surprise 537 (up 68%)

  13. Maricopa 334 (down 4%)

  14. Florence 177 (up 21%)

  15. Casa Grande 129 (up 2%)

  16. Avondale 123 (up 193%)

  17. Glendale 109 (up 418%)

  18. Eloy 79 (down 6%)

  19. Tempe 75 (up 34%)

  20. Wickenburg 75 (up 241%)

  21. Paradise Valley 65 (up 30%)

  22. Litchfield Park 50 (up 14%)

  23. Fountain Hills 46 (up 5%)

  24. Apache Junction 32 (down 16%)

  25. Cave Creek 28 (up 155%)

  26. Carefree 27 (down 13%)

  27. Tolleson 7 (up 40%)

  28. Coolidge 6 (up 50%)

  29. El Mirage 3 (down 96%)

For the counties as a whole, Pinal was up only 19% while Maricopa increased by 47%. The remaining 13 counties of Arizona were up by only 13%


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Phone: 480-332-6468
Dated: February 2nd 2016
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