The ARMLS Pending Price Index (ARMLS PPI) Supplement focuses on new Phoenix pending properties added each month to the Arizona MLS system and analyzes $/SQ FT at different market value price points.
The ARMLS PPI works off of the assumption that when a Phoenix home for sale goes under contract and then into pending status, the contract at that point has satisfied any contingencies with the most common potential roadblock being whether or not a home buyer ends up having issues with his or her lender to such an extent that the issues result in a cancellation of the contract. In this case the home would fall out of pending status and becomes active again. Therefore, most discrepancies between what the PPI predicts and what actually happens may be attributed to an overstated prediction of pending homes that actually convert to executed home sales contracts.
With that consideration in mind, the ARMLS PPI predicts the direction of the Phoenix real estate market thirty days into the future and is based on the pending home sales in the Arizona multiple listing system.
Contact our team of Phoenix real estate agents and home sale specialists if you are a buyer, seller, or investor, and you are interested in selling or buying Phoenix property.