Over the past week, the housing market has continued to decline for sellers, showing a worsening trend in overall conditions. Market momentum is shifting further in favor of buyers, and only a few areas are showing any signs of improvement for those looking to sell. This marks the second consecut

There was a pronounced shift in the composition of single family detached home sales in Greater Phoenix between March and April. Overall the lower end of the market gained momentum as buyers gravitated toward more affordable properties. Sales of homes priced up to $500,000 rose by 11.3% while the

During the first quarter of 2025, construction permits for multi-family properties in Maricopa and Pinal counties fell sharply, reaching the lowest quarterly count since early 2019. According to data from the U.S. Census Bureau, only 2,195 permits were issued during this period. This figure repre

The data is starting to show a notable decline in home prices, with the average price per square foot for listings under contract, represented by the green line, falling from $350 in late December to $322 today. This measure dipped to $335 before dropping again about five weeks ago, signaling a c

A very different picture is emerging in today’s luxury housing market. While the current inventory stands at 169.5 days, this figure is significantly below the long-term average of 279.4 days. It’s also notably lower than any inventory levels recorded between 2014 and 2019. This data highlights a

With global tariffs underway, I thought it would be interesting whether more Canadian homeowners are selling their properties in Arizona and returning to Canada. While this is a compelling question, it's difficult to answer definitively since the nationality of homeowners is not recorded in publi

The latest data continues to show the Greater Phoenix housing market shifting further in favor of buyers, and that momentum has begun to accelerate. Over the past month, 13 cities have deteriorated for sellers while only four have improved. Among the improving markets, Avondale stands out with a

The number of pending foreclosures in Maricopa County has been gradually increasing, edging closer to the levels seen in 2020 before the pandemic disrupted the housing market. At the start of last year, there were 870 foreclosures pending. By the end of December, that number had climbed to 1,206,

The asking price per square foot for 2025 has already begun to decline after peaking in February, an unusually early trend in the housing market. Historically, asking prices tend to peak later in the year, making this early downturn a significant indicator of shifting market sentiment. The distin

Maricopa County’s January affidavits of value have been analyzed, revealing notable trends in the local real estate market. There were 6,000 closed transactions in January, reflecting a 1.1% increase from February 2024, which had 5,933 closings, and an 18% increase from the previous month. Of thes

The real estate market in Greater Phoenix has experienced a notable increase in the number of single-family detached homes available for sale compared to one year ago. Overall, there are 44% more listings on the market across all price ranges, indicating a significant expansion in housing invento

The real estate market is no longer performing as a single, cohesive entity, as the luxury sector has become increasingly disconnected from the affordable and mid-range markets, which make up the majority of transactions. While the overall market may exhibit trends of stagnation or moderate growt

The real estate market continues to show signs of weakening for sellers compared to the previous week. Currently, 15 cities have seen a decline in market conditions over the past month, with Mesa and Gilbert now joining the 13 cities that were already experiencing deterioration. In contrast, only

Understanding the difference between averages and medians is crucial when analyzing housing market data. Experts estimate that 70% to 80% of people do not fully grasp the distinction between these two statistical measures, which can lead to misleading conclusions. While many people use "average,"

The real estate market has taken a noticeable turn compared to last week, with conditions shifting in favor of buyers in several cities. Currently, eight cities have seen a decline in seller-friendly conditions over the past month, with Paradise Valley, Cave Creek, and Glendale joining the five c

The new home market in Maricopa County has seen a notable decline over the past six months, as evidenced by monthly affidavit counts. New homes have steadily lost market share to re-sales, dropping from 28% in December 2023 to 24% in December 2024. This shift suggests a weakening demand for new h

Since the beginning of this year, the active listing count has increased by 2,324, representing an 11.9% rise. This growth rate surpasses the 8.1% increase seen during the same period last year, and it builds upon a base of 19,460 compared to 14,593 in 2024. These figures indicate that the supply

December’s headline job growth figure, released on Friday, suggests a robust labor market, though it is subject to revision in subsequent reports. The initial data showed strength in multiple areas, including increases in both full-time and part-time employment after declines in November. However

This week marks a notable improvement in the real estate market for sellers compared to the previous month. Data from the Cromford® Market Index (CMI) reveals that 15 major cities have experienced an increase in their index over the past month, while only 2 have shown a decline. This positive shi

This week marks a notable improvement in the market for sellers compared to last month. Fourteen large cities have reported an increase in their Cromford® Market Index (CMI) over the past month, while only three have experienced a decline. This positive trend highlights a significant shift, with