The Cromford Report – Daily Observations October 2016

    October 31 – September saw a lull in Notices of Trustee Sale but October went back to normal with 644 across Maricopa County. There were 726 in October 2015, so we are still on a slow downward trend despite the odd bump from month to month. Year to date we are down 27% compared with last year at 6,792 after 10 complete months.

    Completed trustee deeds dropped slightly in October compared with September, down to just 239 across Maricopa County. Year to date we have 2,913 which is down 43% compared to last year at this time. Last month’s total is down 96% from the peak in March 2010.

    October 30 – Last year at this time we entered a 6 week period with a notable decline in the monthly sale rate, enough to take us 5% below the equivalent monthly sales rate for November 2014. In contrast this year, we are seeing an uptick in the monthly sales rate. As of today we are 14% ahead of October 30, 2015. That is the highest annual percentage growth in sales since August 2015.

    October 29 – If the single family permits for September were a little underwhelming, the multi-family permits made up for it, with a total of 1,562 across Maricopa and Pinal. The is the fifth highest monthly total we have recorded in the last ten years. Big contributions came from:

    1. Phoenix 498
    2. Chandler 429
    3. Scottsdale 373
    4. Mesa 170
    5. Tempe 82

    Unusually the permits included a a four-plex in Paradise Valley, with a construction cost over $2 million.

    October 28 – The single family building permit count for September was 1,467 across Maricopa and Pinal counties. This is only a very slight increase on the 1,455 we saw in September last year and represents a bit of a cooling off. Having risen quickly from 975 in January 2015 to 1,489 in March 2016, the rolling 12 month average has stalled at about 1,510 per month and has barely changed for the last 7 months.

    The year to date counts for the top 10 areas are:

    1. Phoenix 1,914
    2. Mesa 1,639
    3. Gilbert 1,276
    4. Peoria 1,250
    5. Unincorporated Pinal County 1,124
    6. Buckeye 1,111
    7. Chandler 998
    8. Queen Creek 850
    9. Unincorporated Maricopa County 814
    10. Goodyear 786

    October 27 – This week we are really seeing the effect of incoming supply in the Cromford® Market Index for the single family markets in the 17 largest cities:

    We have 12 out of 17 cities deteriorating for sellers, with significant rises in supply for Surprise, Paradise Valley, Fountain Hills and Scottsdale.

    The Southeast Valley is getting off lightly with only very modest growth in supply, particularly in Chandler and Mesa.

    Goodyear is looking stronger than it has for a very long time while Maricopa continues to improve despite the highest annual appreciation rate of the 17. A high appreciation rate eventually leads to suppression of demand.

    And OMG, Avondale has started to go back up again, increasing the gap at the top of the table. I have to admit it is getting boring having the same city at number 1 for so long. However I am sure sellers in Avondale just love it.

    October 26 – We have been pointing out the serious long term effects of demographic changes for some time and it appears we are not alone. The Federal Reserve Board has a Division of Research and Statistics and Monetary Affairs and they recently published a paper entitled Understanding the New Normal: The Role of Demographics.

    The Washington Post published an article on the paper here. We are experiencing the after-effects of the post-war baby boom with a significant slowdown in the growth of the labor force.

    The conclusion is that demographics are the primary cause of slow growth in the economy and that anemic GDP growth is likely to remain with us for a long time.

    October 25 – The S&P / Case-Shiller® Home Price Index® report was released today for the 3 month period ending in August 2016. The year over year changes were as follows:

    1. Portland 11.7%
    2. Seattle 11.4%
    3. Denver 8.8%
    4. Dallas 8.1%
    5. Tampa 7.6%
    6. Miami 7.1%
    7. San Francisco 6.7%
    8. Los Angeles 5.8%
    9. San Diego 5.8%
    10. Charlotte 5.8%
    11. Detroit 5.7%
    12. Las Vegas 5.2%
    13. Atlanta 5.2%
    14. Phoenix 5.2%
    15. Minneapolis 5.2%
    16. Boston 4.1%
    17. Chicago 4.1%
    18. Cleveland 2.9%
    19. Washington DC 2.3%
    20. New York 1.7%

    At 5.2% Phoenix is just below the national average of 5.3% and thus completely unexceptional. The top 3 remain the same as last month though they are slowing down a little.

    The month over month changes look like this:

    1. Phoenix 0.59%
    2. New York 0.58%
    3. Tampa 0.55%
    4. Dallas 0.50%
    5. Seattle 0.50%
    6. Chicago 0.49%
    7. Minneapolis 0.46%
    8. Portland 0.45%
    9. Detroit 0.44%
    10. Miami 0.42%
    11. Charlotte 0.42%
    12. San Francisco 0.41%
    13. Los Angeles 0.37%
    14. Washington DC 0.36%
    15. Denver 0.33%
    16. Boston 0.31%
    17. Atlanta 0.23%
    18. San Diego 0.13%
    19. Las Vegas 0.12%
    20. Cleveland 0.06%

    Now we see a reason to get excited. Phoenix is number 1 for home price appreciation month to month, up from 5th place last month.

    October 24 – “The Presidential race already having an impact on the Phoenix-area housing market”. ???

    Like Jim Belfiore, I am not seeing any evidence of this in the overall housing market. In fact the listings under contract chart confirms that there is more buyer contracting activity than at the same time last year. If there is any hesitation it is probably going to be in a few sectors of the luxury market, which is only a very small percentage of the total. Homes over $1 million represent less than 1.5% of unit sales. However they represent 8.5% of homes listed for sale. So there are far fewer buyers to go round and they are more likely to being distracted by politics.

    I have never seen the housing market distracted by an election, and although I dearly wish this one would just stop already, I don’t believe it is having an appreciable effect now.

    Of course policy decisions taken after an election could potentially have a major effect on the housing market.

    October 23 – The statistics based on public records for Maricopa & Pinal counties are now complete for September and reveal the following:

    • Normal single family resales were up 5.8% compared with September 2015
    • New single family homes were up 29.7%
    • Distressed single family sales were down 23%
    • Total dollar volume increased by 15.4% for single family homes
    • Total dollar volume increased by 19.3% for condo / townhouses
    • Average price per sq. ft. for single family homes grew 6.7% to $140.29
    • Average price per sq. ft. for condo / townhouses grew 8.7% to $146.71

    October 22 – The influx of new listings that we see every year from late September to Thanksgiving tends to put some downward pressure on the Cromford® Market Index, because supply inevitably grows. We just don’t have the sales rate to eat up all the new listings at this time of year. However we would not take this as a negative sign this year. The “springiness” in the weekly sales chart and pending listing chart both look more impressive this year than any since 2012 and the Listing Success Rate is much stronger than usual for the time of year.

    There is nothing very remarkable or dramatic going on, but the small signs I see point to additional market strength rather than weakness.

    October 21 – The Canadian dollar is currently worth about 75 cents US, down roughly 25% from 2012 and 2013 when it ranged between 95 cents and $1.03. This makes homes in Arizona much more expensive than they were a few years ago, if you are converting funds to or from Canadian currency. In the first 9 months of 2016 we have seen an exodus of Canadian-based homeowners with 1,736 selling up and only 333 purchasing within Maricopa County, a net loss of 1,403 homeowners.

    In the same 9 months of 2015 we saw a net loss of 679 (1,323 sales and 644 purchases) and in 2014 we saw a gain of 250 (820 sales and 1,070 purchases).

    The boom years of 2012, 2013 and 2014 gave us net gains of 3,327, 2,572 and 986 respectively, so the current exit rate is less than half the arrival rate of 2012.

    I do not know if we have reached the peak Canadian exit rate, but we are currently losing about 7% of home-owning Canadians per year, something we have never seen before.

    October 20 – Today we look once more at the Cromford® Market Index for the single family markets in the largest 17 cities within Greater Phoenix.

    These numbers reflect the swing away from sellers that we usually see during October and November due to declining sales rates and increasing new listings. We see 11 cities deteriorating for sellers and 6 improving. The overall change is not huge however and the market remains in good health.

    The Southeast Valley looks strongest with Mesa, Chandler and Tempe among the 6 improving areas. Gilbert and Queen Creek declined however. The Northeast Valley is affected most by the new supply with Scottsdale, Paradise Valley and Fountain Hills moving backwards. Cave Creek managed a small gain.

    The West Valley is mixed with Glendale improving, but Surprise, Goodyear, Buckeye and Peoria all weakened for sellers with a stronger supply trend than we have seen for some time. Buckeye is the only city that is not a seller’s market among these 17.

    October 19 – Looking at the broader regions within Greater Phoenix, we see inventory rising fastest in the Northeast and slowest in the Southeast. The change in days of inventory over the past month was as follows:

    Region Days of Inventory 9/1/16 Days of Inventory 10/1/16
    Southeast 82 84
    Northeast 176 187
    Phoenix 87 90
    West 80 84

     

    October 18 – The biggest difference between 2015 and 2016 has been the market share gains made by new homes over re-sales. Based on year to date sales at the end of August, overall dollar volume is up by 13.6% for single family and townhouse / condo properties across Maricopa and Pinal Counties. However new home dollar volume is up by 34.6% while re-sales are up by only 10.3%. In market share terms new homes have grown from a 13.6% share to 16.1%. New home developers have done more in 2016 to address the lower price ranges and unit counts are up 33% year to date.  Analyzing by city we see the following unit sales growth:

    City New Homes YTD 2015 New Homes YTD 2016 % Change
    Mesa 734 1,205 64%
    Peoria 743 1,114 50%
    Phoenix 803 976 22%
    Gilbert 990 946 -4%
    Chandler 370 765 107%
    Buckeye 523 744 42%
    Queen Creek 432 595 38%
    San Tan Valley 414 571 38%
    Goodyear 465 545 17%
    Scottsdale 253 332 31%
    Surprise 261 257 -2%
    Laveen 147 233 59%
    Maricopa 192 205 7%
    Florence 139 203 46%
    Cave Creek 114 129 13%
    Tolleson 78 116 49%
    Avondale 44 107 143%
    Glendale 39 102 162%
    Litchfield Park 100 77 -23%

     

    October 17 – Tina Tamboer has been conducting research into the fix and flip market and has published her findings in a Powerpoint presentation that you can download from our web site:

    2016-10 Fix and Flip Market.

    October 11 through October 16 – Due to vacation, the only observations I have been making are of beautiful Lake Powell. Here is a picture my wife Andrea took of the sunset on October 12. Taken with a Samsung S7 Edge cell phone from the deck of our houseboat timeshare.

    Perhaps it will encourage more people to move to Arizona?

    Actually we were about 1 mile inside Utah when she took this shot, but let’s not split hairs.

    October 10 – The Black Knight Financial Services Mortgage Monitor report for August has been released and shows the vast majority of states continue to experience lower delinquency rates than for August 2015. The only exception is North Dakota, with a 6.2 increase in non-current loans. Other fossil-fuel dependent states are seeing lower delinquencies but only small declines. These include Louisiana, West Virginia, Wyoming and Alaska.

    As you might expect the greatest percentage drops in delinquency are found in states where the housing market is buoyant. These include Washington, Colorado, Oregon, Idaho, Nevada and Florida, all showing declines in delinquency of over 20%.

    Arizona is in the middle with a decline of 11%. We are starting to rise up the delinquency table because states like Washington and Oregon are losing their delinquent loans faster than we are.

    October 9 – Today we are examining pricing across the Central Valley, comparing 3Q 2016 with 3Q 2015 for all property types.

    City ZIP Quarterly Average $/SF 3Q 2015 Quarterly Average $/SF 3Q 2016 % Change
    Phoenix $136.77 $146.36 7.0%
    85003 $237.47 $210.37 -12.9%
    85004 $179.67 $196.87 8.7%
    85006 $150.54 $178.39 15.6%
    85007 $166.12 $164.05 -1.3%
    85008 $126.35 $146.46 13.7%
    85009 $80.05 $96.33 16.9%
    85012 $182.06 $219.21 16.9%
    85013 $161.82 $184.99 12.5%
    85014 $148.82 $172.42 13.7%
    85015 $111.57 $120.23 7.2%
    85016 $193.76 $198.85 2.6%
    85017 $79.72 $92.44 13.8%
    85018 $256.01 $253.03 -1.2%
    85019 $82.78 $97.02 14.7%
    85020 $156.51 $158.23 1.1%
    85021 $163.11 $158.18 -3.1%
    85022 $134.73 $143.06 5.8%
    85023 $123.12 $132.24 6.9%
    85024 $140.21 $155.05 9.6%
    85027 $117.89 $129.22 8.8%
    85028 $172.09 $177.39 3.0%
    85029 $104.15 $118.88 12.4%
    85031 $74.25 $89.85 17.4%
    85032 $134.11 $151.03 11.2%
    85033 $83.90 $95.21 11.9%
    85034 $114.80 $102.98 -11.5%
    85035 $90.38 $99.77 9.4%
    85037 $86.40 $99.54 13.2%
    85040 $89.25 $99.13 10.0%
    85041 $90.74 $99.82 9.1%
    85042 $109.21 $122.46 10.8%
    85043 $89.73 $100.13 10.4%
    85050 $164.43 $172.83 4.9%
    85051 $91.03 $98.86 7.9%
    85053 $104.63 $113.43 7.8%
    85054 $198.94 $194.68 -2.2%
    85083 $129.43 $131.76 1.8%
    85085 $135.65 $142.32 4.7%
    85086 $135.04 $138.04 2.2%
    New River 85087 $123.35 $137.86 10.5%

    Dramatic variations in appreciation occur from a low of -11.5% in 85034 to a high of 17.4% in 85031.

    It is noteworthy that 85018 made a much weaker showing in 3Q 2016 than in the previous 8 quarters. Generally speaking the south and west of Phoenix showed the strongest pricing trends, though some spots in the north (e.g. 85024, 85032) also did well.

    October 8 – Today we are examining pricing across the Northeast Valley, comparing 3Q 2016 with 3Q 2015 for all property types.

    City ZIP Quarterly Average $/SF 3Q 2015 Quarterly Average $/SF 3Q 2016 % Change
    Carefree 85377 $250.29 $198.69 -20.6%
    Cave Creek 85331 $171.19 $181.54 6.0%
    Fountain Hills 85268 $183.25 $184.00 0.4%
    Paradise Valley 85253 $318.85 $324.25 1.7%
    Rio Verde 85263 $155.97 $187.66 20.3%
    Scottsdale $212.30 $219.84 3.6%
    85250 $191.72 $185.37 -3.4%
    85251 $190.32 $221.87 14.2%
    85254 $184.81 $191.18 3.3%
    85255 $246.19 $264.80 7.0%
    85257 $157.87 $173.67 9.1%
    85258 $213.77 $217.84 1.9%
    85259 $204.02 $210.06 2.9%
    85260 $191.18 $196.50 2.7%
    85262 $270.81 $259.47 -4.4%
    85266 $224.91 $223.24 -0.7%

    Far fewer ZIP codes exist in the Northeast Valley, but four of them showed negative appreciation when comparing 3Q sales in 2015 and 2016. Carefree had only 18 sales in 2016 compared with 34 in 2015 so the very weak pricing is based on a low sample. The same is true of Rio Verde but with the opposite effect. Sales grew from 17 to 29 and pricing showed an abnormal jump.

    Yet again 85251 was an outstanding price performer in the Northeast Valley.

    October 7 – Today we are examining pricing across the West Valley, comparing 3Q 2016 with 3Q 2015 for all property types.

    City ZIP Quarterly Average $/SF 3Q 2015 Quarterly Average $/SF 3Q 2016 % Change
    Avondale $95.97 $104.98 9.4%
    85323 $88.23 $101.10 12.7%
    85392 $101.49 $108.84 6.8%
    Buckeye $95.94 $102.70 7.1%
    85326 $85.16 $94.95 10.3%
    85396 $114.07 $117.18 2.7%
    El Mirage 85335 $88.69 $101.62 14.6%
    Glendale $114.42 $122.19 6.8%
    85301 $76.61 $87.56 12.5%
    85302 $98.04 $108.61 9.7%
    85303 $99.22 $113.34 12.5%
    85304 $107.17 $121.94 12.1%
    85305 $104.91 $116.86 10.2%
    85306 $109.69 $125.18 12.4%
    85307 $97.88 $108.20 9.5%
    85308 $130.04 $136.62 4.8%
    85310 $141.90 $137.17 -3.5%
    Goodyear $111.42 $120.77 8.4%
    85338 $105.57 $114.66 7.9%
    85395 $120.77 $130.88 7.7%
    Laveen 85339 $92.42 $100.11 8.3%
    Litchfield Park 85340 $110.73 $116.58 5.3%
    Peoria $122.34 $127.93 4.6%
    85345 $102.76 $113.84 9.7%
    85381 $119.03 $124.35 4.3%
    85382 $123.08 $130.64 5.8%
    85383 $130.48 $132.99 1.9%
    Sun City $90.64 $98.60 8.8%
    85351 $86.67 $92.62 6.4%
    85373 $98.52 $107.51 8.4%
    Sun City West 85375 $115.13 $123.90 7.1%
    Surprise $105.55 $111.71 5.8%
    85374 $120.21 $124.09 3.1%
    85378 $98.97 $113.15 12.5%
    85379 $96.51 $105.18 8.2%
    85387 $129.19 $129.30 0.1%
    85388 $94.51 $101.67 7.0%
    Tolleson 85353 $87.49 $96.88 10.7%
    Tonopah 85354 $69.85 $71.47 2.3%
    Waddell 85355 $102.74 $104.53 1.7%
    Wickenburg 85390 $124.66 $112.31 -9.9%
    Wittmann 85361 $96.97 $113.47 17.0%
    Youngtown 85363 $86.07 $96.74 12.4%

    Once more we see very few ZIP codes declining (only 85310 and 85390) while 12 appreciated by more than 10%.

    October 6 – It is time again to look at how the Cromford Market Index has fared for the single family market in the 17 largest cities.

    Declining cities outnumber advancers by 10 to 7, but the picture is more balanced than that comparison suggests. 6 of the 10 declining cities fell by 2% or less leaving only Avondale, Surprise, Goodyear and Buckeye cooling by more than 2%. We note that these are all in the West Valley.

    Strong advances can be seen in Cave Creek, Glendale, Chandler, Paradise Valley and Tempe. Overall we would say the market remains similar to a month ago with almost all areas and sectors in a seller’s market.

    October 5 – Today we are examining pricing across Pinal County, comparing 3Q 2016 with 3Q 2015 for all property types.

    City ZIP Quarterly Average $/SF 3Q 2015 Quarterly Average $/SF 3Q 2016 % Change
    Apache Junction $106.92 $115.22 7.8%
    85119 $112.04 $121.08 7.5%
    85120 $102.67 $110.84 7.4%
    Casa Grande $75.91 $81.53 7.4%
    85122 $72.85 $78.41 7.1%
    85194 $60.13 $71.66 16.1%
    Coolidge 85128 $53.74 $57.89 7.7%
    Eloy 85131 $93.77 $101.95 8.7%
    Florence 85132 $77.96 $84.23 8.0%
    Gold Canyon 85118 $145.09 $143.23 -1.3%
    Maricopa $74.55 $84.09 12.8%
    85138 $76.37 $85.43 10.6%
    85139 $69.55 $79.45 12.5%
    Queen Creek (including San Tan Valley) $98.64 $105.30 6.8%
    85140 $95.17 $101.80 6.5%
    85142 $110.04 $117.54 6.4%
    85143 $85.21 $89.31 4.6%

    By far the most expensive part of Pinal County, Gold Canyon 85118 was the only ZIP code in this area to show negative appreciation over the last 12 months.

    October 4 – Today we are examining pricing across the Southeast Valley, comparing 3Q 2016 with 3Q 2015 for all property types.

    City ZIP Quarterly Average $/SF 3Q 2015 Quarterly Average $/SF 3Q 2016 % Change
    Ahwatukee $151.54 $156.29 3.0%
    85044 $148.50 $159.18 6.7%
    85045 $147.76 $147.12 -0.4%
    85048 $155.33 $156.81 0.9%
    Apache Junction $106.92 $115.22 7.8%
    85119 $112.04 $121.08 7.5%
    85120 $102.67 $110.84 7.4%
    Chandler $138.55 $145.90 5.3%
    85224 $137.04 $149.33 8.2%
    85225 $129.94 $139.16 6.6%
    85226 $142.62 $154.43 7.7%
    85249 $135.50 $138.70 2.3%
    85286 $143.04 $148.95 4.0%
    Gilbert $131.01 $138.27 5.5%
    85233 $133.60 $142.18 6.0%
    85234 $133.80 $138.01 3.1%
    85295 $127.82 $131.58 2.9%
    85296 $129.95 $136.99 5.1%
    85297 $126.51 $139.25 9.1%
    85298 $135.64 $143.37 5.4%
    Mesa $121.24 $128.02 5.6%
    85201 $108.66 $119.67 9.2%
    85202 $116.80 $127.31 8.3%
    85203 $117.95 $125.67 6.1%
    85204 $112.38 $129.52 13.2%
    85205 $122.10 $129.50 5.7%
    85206 $119.57 $120.37 0.7%
    85207 $146.67 $150.94 2.8%
    85208 $103.72 $117.57 11.8%
    85209 $118.76 $123.25 3.6%
    85210 $118.24 $124.84 5.3%
    85212 $116.59 $119.52 2.5%
    85213 $126.13 $126.75 0.5%
    85215 $130.75 $135.72 3.7%
    Queen Creek (including San Tan Valley) $98.64 $105.30 6.8%
    85140 $95.17 $101.80 6.5%
    85142 $110.04 $117.54 6.4%
    85143 $85.21 $89.31 4.6%
    Tempe $145.57 $153.79 5.6%
    85281 $155.09 $166.85 7.0%
    85282 $132.03 $142.93 7.6%
    85283 $140.26 $144.28 2.8%
    85284 $161.27 $164.84 2.2%
    Sun Lakes 85248 $126.93 $131.47 3.6%

    Influenced by the 202 extension, 85045 was the only ZIP code in this area to lose ground over the last 12 months.

    October 3 – Pricing was weaker during the third quarter, as is usually the case every year, but shows signs of strengthening during the fourth quarter. Indeed, September was a much stronger month for prices than July and August. Looking at the quarterly averages by price range for the Greater Phoenix market (all property types) we see the following:

    Price Range Quarterly Average $/SF 3Q 2015 Quarterly Average $/SF 3Q 2016 % Change
    Up to $150K $87.49 $93.70 7.1%
    $150K to $200K $104.17 $110.48 6.1%
    $200K to $250K $118.65 $123.36 4.0%
    $250K to $300K $128.54 $131.90 2.6%
    $300K to $400K $138.70 $141.81 2.2%
    $400K to $500K $153.60 $155.56 1.3%
    $500K to $750K $181.06 $184.05 1.6%
    $750K to $1M $225.33 $218.14 -3.2%
    $1M to $2M $285.12 $272.68 -4.4%
    Over $2M $395.24 $435.09 10.1%

    We note that the luxury market over $2 million (albeit small with only 59 transactions during the third quarter) did a lot better from a pricing perspective than the luxury market under $2 million. Between $750K and $2 million average price per square foot declined. Between $400K and $750K prices kept roughly in line with inflation. Between $250K and $400K prices moved upwards by a little more than inflation. The market below $250K (which had almost 13,000 unit sales during the quarter), appreciated by more than twice the rate of inflation. Some geographical areas comfortably exceeded the highest rate shown here. We will look at prices by geography shortly.

    October 2 – The number of Greater Phoenix single family active listings (excluding UCB and CCBC) by price range on October 1, 2016 compared with October 1, 2015 is as follows (single family only):

    Price Range October 2015 October 2016 Growth
    Under $100K 233 145 -38%
    $100K-$125K 214 116 -46%
    $125K-$150K 519 320 -38%
    $150K-$175K 871 753 -14%
    $175K-$200K 1,118 1,134 1%
    $200K-$225K 920 1,018 11%
    $225K-$250K 1,095 1,256 15%
    $250K-$275K 825 911 10%
    $275K-$300K 1,004 1,031 3%
    $300K-$350K 1,533 1,498 -2%
    $350K-$400K 1,382 1,349 -2%
    $400K-$500K 1,544 1,728 12%
    $500K-$600K 955 1,024 7%
    $600K-$800K 958 1,094 14%
    $800K-$1M 545 637 17%
    $1M-$1.5M 540 589 9%
    $1.5M-$2M 290 350 21%
    $2M-$3M 283 291 3%
    $3M+ 215 242 13%

    The shortage of homes under $175,000 continues to drive prices up quickly at the bottom of the market.

    After a pleasant fall in supply for luxury home sellers over the third quarter, they must brace themselves for the likelihood of a lot more competition arriving over the next 2 months and during the first quarter of 2017.

    October 1 – Sellers will be hoping that we do not see too much of an increase in active listings between August and the end of November. Looking at the changes between September 1 and October 1, we can see a few ZIP codes where it looks like they will be disappointed. The active listing counts have not risen too much overall, but in the following ZIP codes we see relatively large increases in active single family listings for just one month:

    • Phoenix 85034 +100%
    • Fort McDowell 85264 +100%
    • Phoenix 85033 +55%
    • Mesa 85208 +47%
    • Superior 85173 +45%
    • Youngtown 85363 +38%
    • Sun City West 85375 +32%
    • Phoenix 85014 +31%
    • Sun City 85351 +31%
    • Glendale 85302 +30%
    • Rio Verde 85263 +27%
    • Eloy 85131 +26%
    • Phoenix 85023 +25%
    • Phoenix 85006 +24%
    • Gilbert 85296 +24%
    • Phoenix 85051 +23%
    • Gold Canyon +23%
    • Gilbert 85297 +23%
    • Scottsdale 85250 +23%
    • Gilbert 85234 +22%

     

    © 2016 Cromford Associates LLC

    The data used to create the Cromford® Report is obtained from public records and obtained under license from the Arizona Regional Multiple Listing Service, Inc (ARMLS). Cromford Associates LLC and ARMLS expressly disclaim and make no representations or warranties of any kind, whether express, implied or statutory, as to the accuracy of the data used or the merchantability or fitness for any particular purpose.

    Testimonials

    No small part of this deal working out was due to the intense negotiations and juggling of our real estate agent, Denise Pruitt with Arizona Best Real Estate. She acted in our best interest at every turn, taking the brunt of the unpleasantness and making it work out. WE WOULD NOT BE IN THIS HOUSE WITHOUT HER. I think she is owed a bedroom, at least. Maybe a portion of the pool. – Eric & Kathryn (clients of Denise Pruitt)

    Contact Us Now

    Any questions, comments, or feedback