If you follow my market updates or read The Cromford Report, you’ve probably seen me reference the Cromford Market Index (CMI) — one of the most accurate indicators of market strength in Greater Phoenix real estate.
But what exactly is the CMI, and why does it matter for buyers and sellers?
Let’s break it down in plain English.
What Is the Cromford Market Index (CMI)?
The Cromford Market Index (CMI) is a number that measures the balance between supply (homes for sale) and demand (active buyers) in the Greater Phoenix housing market.
It’s calculated by comparing how many homes are available to how many are going under contract.
Here’s how to read it:
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CMI = 100 → Balanced Market — buyers and sellers have roughly equal negotiating power.
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CMI > 100 → Seller’s Market — demand is stronger than supply, so sellers generally have the advantage.
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CMI < 100 → Buyer’s Market — supply outweighs demand, so buyers have more leverage.
In short:
The higher the CMI, the stronger the market is for sellers.
Why It Matters
The CMI helps us see where the market is heading — not just where it’s been. Because it’s updated daily by The Cromford Report using real-time data from the Arizona Regional MLS, it reacts faster than most monthly housing reports.
For example:
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If new listings rise sharply but demand stays flat, the CMI will drop — signaling that conditions are easing for buyers.
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If inventory stays low and contracts surge, the CMI will rise — confirming continued strength for sellers.
Understanding these shifts allows both buyers and sellers to make better timing and pricing decisions.
A Simple Way to Visualize It
Imagine a speedometer:
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100 is the midpoint — a balanced market.
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150+ means the market is accelerating for sellers.
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75 or below means the market is cooling and favoring buyers.
I often include this CMI gauge in my monthly reports to make it easy to see how your specific city or neighborhood compares to the overall metro average.
Would you like to see where your community currently stands?
đź“© Contact me for the latest CMI data and a neighborhood-level analysis.
Bottom Line
The Cromford Market Index is more than just a number — it’s a real-time snapshot of how competitive the market is today.
By tracking the CMI trends, we can anticipate shifts weeks or even months before they show up in closed sales data.
That’s the kind of insight that helps you make confident, well-timed real estate decisions in any market.
About Eric Slack Realty
Eric Slack is a REALTOR® with Russ Lyon Sotheby’s International Realty, specializing in luxury and golf community properties across Greater Phoenix and Scottsdale.
Visit my website for local market insights, listings, and resources for Arizona buyers and sellers.