Mar 22 2016 Market Update

Mar 22 2016 Market Update

The Cromford® Market Index hit a short term low on March 8 at 125.6 and has since gently risen to 126.7 telling us that the market has improved slightly for sellers in the last 2 weeks. The Cromford® Supply Index is still rising - it went from 80.2 to 81.1 during the same period - but we at last detect some serious signs of improving demand. The Cromford® Demand Index has risen from 100.8 to 102.8, its most significant move in 10 months.

Contributing to the increased demand we see:

  1. The monthly closed sales rate up from 6,034 to 6,866 in 12 days

  2. The number of pending listings up from 7,729 to 8,044

  3. The number of UCB & CCBS listings up from 4,778 to 5,008

These bode well for the rest of the spring buying season.

The number of normal UCB & CCBS listings has hit an all time record today at 4.376. We expect higher records to come. To illustrate the distorting effect of internet marketing sites on the UCB counts we note that this number was 2,282 two years ago, 814 four years ago and just 435 six years ago. By our calculations at least 65% of the UCB listings today would have been classified as Pending based on the customary habits of agents in 2010, prior to the impact of Zillow etc.


Dave Zajdzinski Headshot
Author:
Phone: 480-332-6468
Dated: March 22nd 2016
Views: 307
About Dave: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Nov 17 2016 Two Year Market Appreciation - Which ZIP codes the strongest
Oct 14 2016 Market Update - October 6 - It is time again
GIlbert Living - As a Realtor in the east Valley I
Aug 31 2016 Market Update Phoenix Up 60 Percent From 2011 - Another S&P/Case-Shiller® Home

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

ReMax Infinity The Z TEAM
2450 S Arizona Ave
Chandler, AZ
480-418-0757
866-936-4487