Looking at the contract ratio, it stands at a respectable 51.3, albeit slightly behind last year’s figures by about 5 points. This minor lag is unsurprising given the current stall in interest rates.
Now, onto the Cromford Report, which has remained flat at 117.6. This stagnation raises questions about whether we might see a weakening trend emerge during what is typically considered high season for the real estate market. It’s a situation worth monitoring closely in the coming weeks.
In conclusion, while the Phoenix Metro real estate market appears to be maintaining stability overall, there are subtle shifts and unique trends at play, particularly evident in certain price points and market indices. As we navigate through the coming weeks, we’ll continue to provide updates and insights into this dynamic market landscape.
For more detailed statistics and trends, check out our Facebook post here, where you can find visual representations of the data.
Additionally, if you’re interested in a comprehensive market update, feel free to watch our latest video on YouTube here. Stay tuned for more updates!