Arizona Real Estate Notebook

I think the Arizona Regional Multiple Listing Service (ARMLS) has done a great job with their new publication of Phoenix area real estate market statistics called STAT. ARMLS is the MLS for the Phoenix area.

ARMLS has one marvelous advantage over everyone else when forecasting home prices a couple of months out, ARMLS actually knows the contract prices on ARMLS homes after they go under contract. ARMLS doesn’t publish the contract prices of individual home sales, of course, not even to its Realtor members. ARMLS, however, aggregates all that data it has to get an excellent estimate of future home prices in the aggregate Phoenix area.

You gotta check it out! (Click on the graph below.)

Look for this ARMLS information to eventually become the backbone of real estate market articles in the local media because, basically, the ARMLS data is just better quality data.

For example, the media loves to quote RealtyTrac about the Arizona residential real estate market but RealtyTrac‘s numbers are just plain bad for Arizona.

Better data means you can make better decisions.