Market Conditions Phoenix Area

Here is an excerpt from the Cromford Report on the Phoenix Metro area market conditions: Market Summary for the Beginning of November Starting with the basic ARMLS numbers for November 1, 2017 and comparing them with November 1, 2016 for all areas & types: Active Listings (excluding UCB): 18,646 versus 21,028 last year - down 11.3% - but up 2.7% from 18,161 last month Active Listings (including UCB): 22,403 versus 24,862 last year - down 9.9% - but up 2.8% compared with 21,783 … [Read more...]

Scottsdale Market Update- Price Reductions on the Rise

Price Reductions on the increase for the  $500,000+ Market in Scottsdale As a long subscriber to the Cromford Report I am able to gain access to the most real time statistics of the Arizona Real Estate Market.  Here is a commentary from Michael Orr on the status of the Scottsdale Market for homes priced $500,000 and over: One indicator that the environment is changing is a significant rise or fall in the number of weekly price reductions. When sellers are gaining advantage, price … [Read more...]