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March 24, 2022 Market Update

Thursday, March 24, 2022   /   by Bryan Baylon

March 24, 2022 Market Update

Here is our latest table of Cromford® Market Index values for the single-family markets in the 17 largest cities

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Over the last month, 8 of the 17 cities have improved for sellers while 9 have deteriorated for sellers. This is the same split as last week, but the average change in the CMI over the past month is -1.4% whereas it was +0.3% last week. Last week we said we expected today's table to show a negative percentage and we were not wrong.

The market is continuing to cool, though at a glacial pace which would take many years to reach balance.

Surprise was the weakest city, down 11% while Tempe was the strongest, up 12%.

This table confirms that pricing will continue to move higher over the next several months.

Market incites provided by the Cromford report.

Keller Williams Northeast Realty - The Baylon Group
Bryan Baylon
2005 W. Happy Valley Rd #150
Phoenix, AZ 85085

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