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Market Update
April 2018

FROM MICHAEL ORR AT THE CROMFORD REPORT
THE PHOENIX AREA LEADING EXPERT ON REAL ESTATE ANALYSIS.


MLS Sales Outperform non-MLS Sales in Frenzy Market | Supply Under $200K Down 36% Over Last Year

For Buyers:

Greater Phoenix ended the 1st Quarter 13% lower in supply, which was not helped by a 2% decline in new listings entering the market. All price ranges are below last year's level of supply with the exception of the $1M+ market, which is up 1.5%. On the opposite end of the spectrum, supply under $200K is down 36% from last year and all prices in between are down 10%. Buyer competition is typically at it's strongest at this time of year and is expected to begin tapering off seasonally in May or June.

For Sellers: