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March 31, 2022 Market Update

Thursday, March 31, 2022   /   by Bryan Baylon

March 31, 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, 5 of the 17 cities have improved for sellers while 12 have deteriorated for sellers. This is a worse picture for sellers than last week, and the average change in the CMI over the past month is -3.2% whereas it was -1.4% last week. The cooling of the market has started to increase, but it remains extremely hot compared to normal.

Surprise was again the weakest city, down 14% while Tempe was again the strongest, up 10%.

The maximum declined 9% from 668.1 to 607.6 while the minimum also declined from 265.4 to 263.3

Despite the cooling, these are all very high CMI readings and they suggest 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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