Since the height of the Greater Phoenix real estate market in May 2022, inventory has risen dramatically. Additionally, since these changes became fairly obvious, we’ve been providing regular updates on the latest statistics. Using Cromford Report (a leading market data company in Arizona), we’ve been reporting on everything from the best fairing markets (city by city) as well as providing the latest CMIs. While some cities in the valley have performed far better than others, this data is ESSENTIAL for anyone wanting to better understand in what areas buyers have more power to negotiate. As an example, the Paradise Valley real estate market is seeing values hold up the best while Buckeye is performing the worst (from an overall data standpoint).
The Cromford Report uses what is called The Cromford Index. This index determines the status of a market. The “CMI” looks at many points of data including inventory levels and buyer demand. Back in May 2022, the typical CMI in Greater Phoenix was well over 400.
As of September 8th 2022 (see link below to compare to August 25th CMIs)
As a team of top=-performing real estate agents, Williams Luxury Homes knows how to help our clients navigate this market. Applying decades of experience, statistics, and an incredible knowledge of what is going on wand why, we can help you greatly. With that said feel free to reach out at your convenience.