The Cromford® Report provides detailed information to track the history and current status of the Greater Phoenix residential resale market and offers unique insight into its future direction.
Updated daily and usually published online within a few hours, this site is intended for anyone interested in the state of the market and how it affects their investments and livelihood. Our goal is to present data that is timely, informative and easy to understand - data not available anywhere else in this level of detail or immediacy.
|Snapshot||City Ranking||Dashboard||Daily Observations||News & Commentary||Cromford Index|
- January 16 - We have added a new chart showing Listings Under Contract by City on a weekly basis since July 2006. With the vastly increased use of UCB status over the last 3 years, it becomes more important to consider all listings under contract. This includes UCB status, formerly AWC, as well as listings in pending status. This chart supplements the Pending Listings by City charts. Many agents are habitually using UCB status instead of Pending status despite requests from ARMLS for them not to do so. The majority of UCB listings these days are really in what we would formerly have considered pending, but pending listings disappear from Zillow and Trulia. Since UCB listings are considered a subset of active listings they still appear on the online marketing web sites and this is believed to be a significant advantage by many, if not most, real estate agents. In fact some agents never use Pending status at all. As a result a significant proportion of UCB listings are not really soliciting backup offers and are not really active. They are really bait and switch listings until they are closed. To take account of this change of behavior we recommend using the Listings Under Contract chart for examining current demand patterns. The Pending Listing charts will understate current demand compared with earlier years. This effect has grown over the last 3 years since UCB was introduced and continues to grow. Over the next year we will be elevating the importance of Listings Under Contract and reducing the importance of Pending Listings data. Since this is a significant and complex change it will happen gradually over time rather than all at once. Our AWC/UCB counts only go back to July 2006, rather than January 2001.
The content of the Cromford® Report is provided on a subscription basis to ARMLS subscribers. To access it for the first time you need to sign-up and obtain a user ID and password.
ARMLS Subscription - if you are already an active subscriber to the Arizona Regional Multiple Listing Service
Please click on the underlined link above to sign-up.
If you are already signed-up you may select any part of this site from the menu at the left and then enter your user ID and password when prompted. You can also manage your account, log-in or log-out from the Subscriptions tab on the left.
|Annual Growth in Pending Listings||-42.9%||record low||1/18/14|
These are based on the current millennium (2001 onwards). The figures shown are for the entire ARMLS area and all dwelling types are included. For-sale-by-owner, auctions and other non-MLS transactions are not included. For more detailed information on record highs and lows please see the Extremes section.
The Cromford® Report is designed to help you answer your questions about the Greater Phoenix residential real estate market. For example:
- How does today's market compare with the same time last year?
- Which price range is selling fastest over the last month?
- In which city are REO buyers most active right now?
- Which is the cheapest area to buy a resale home?
- How long is it taking to sell a home in my ZIP code?
- What is the balance of supply and demand for resale homes in my city?
- What proportion of homes for sale are short sales or pre-foreclosures?
- Where are prices changing fastest?
- What percentage of listings are finding a buyer before they are canceled or expire?
- Are today's list prices realistic compared with achieved sales prices?
You can find tools to help you answer all the above questions, and many more, within the Cromford® Report web-site.