Phoenix Sales Price Forecast Based On The ARMLS PPI

The most updated ARMLS PPI - a forecasting measure that tried to predict future price movement by pending sales data shows the median price may dip down to a 9 year low.  

That's assuming the prediction comes to fruition as prescribed.  Overall the results of the now well past us peak in notices of trustee sales and the now occurring sales and resulting active bank owned homes has something to do with it, especially in combination with the end of the home buyer tax credit.

What this shows is the the market is far from stable, but it's also important to remember that prices fluctuate seasonally as a norm of the market cycle which usually peaks in June and July.

About the ARMLS Pending Price Index:

"The ARMLS Pending Price IndexTM (PPITM) is a predictive market tool exclusive to ARMLS. The Index uses pending sales data from the Arizona Regional MLS system to predict Median sales price and Average sales price three to four months into the future. This information is only available through ARMLS the sole aggregator of pending sales data."

In Quotes + graph = © 2010 ARMLS