Real estate & real living in the Valley of the Sun
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Mid-Spring 2014 Phoenix/Scottsdale Market Checkup

After a lackluster start, we’re seeing improvement and even though most of the valley is still in a “buyer’s market”, things maybe inching slowly back to balance. See for yourself:

Cromford Report- Supply, Market & Demand Indices
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As a reminder, the Cromford Market Index is defined as “a value that provides a short term forecast for the balance of the market. It is derived from the trends in pending, active and sold listings compared with historical data over the previous four years. Values below 100 indicate a buyer’s market, while values above 100 indicate a seller’s market. A value of 100 indicates a balanced market.”

The Cromford Demand Index is “a value that provides a short term forecast for the demand position within the market. It is derived from the trends in pending and sold listings compared with historical data over the previous four years. Values below 100 indicate a weakness in demand, while values above 100 indicate a stronger than normal demand. A value of 100 indicates a balanced market.”

The Cromford Supply Index is “a value that provides a short term forecast for the supply position within the market. It is derived from the trends in active and sold listings compared with historical data over the previous four years. Values below 100 indicate a shortage of supply, while values above 100 indicate an excess supply. A value of 100 indicates a balanced market.

This is a closer look at the overall market index for the Phoenix/Scottsdale Metro Area over the last 6 months:

Cromford Market Index
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For some perspective, here’s a long-term look (from 2001-present) at the Cromford Index:

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In the grand scheme of things, where we are now is not so bad considering where we’ve come from. The pessimists would like to think we’re headed toward another crash, but it’s just another bump in our market correction. After the housing bust, we over-corrected and it appears that the market is correcting that too. Hopefully it’s just another signal that we’re headed back to “balance”. What a nice word…

TGIF!


Camille Swanson, REALTOR®
Call (602) 810-1750 Direct
(480) 998-0676 Office
camille@camilleswanson.com

6263 N. Scottsdale Rd. #140
Scottsdale, AZ 85250

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