Over the past week, the number of cities shifting in favor of buyers has increased from thirteen to sixteen, leaving only two cities moving in a direction favorable to sellers. The average change in the Cromford Market Index has declined by 6.0 percent, a much steeper drop than last week’s 3.6 percent decrease. This acceleration confirms that momentum is building on the buyer side of the market rather than stabilizing.

Among the few bright spots for sellers, Avondale posted a modest 3 percent improvement, with Glendale slightly ahead. However, several cities, including Fountain Hills, Goodyear, and Scottsdale, recorded double-digit percentage moves in favor of buyers. Chandler moved to the top of the table after declining by just 4 percent, replacing Fountain Hills, which experienced a sharper downturn. These shifts highlight how relative performance can quickly reshuffle market rankings even when overall conditions weaken.

Despite the stronger buyer momentum, nine cities remain in seller’s market territory, while three are balanced and six qualify as buyer’s markets. On paper, that distribution may appear supportive of sellers. However, the underlying trend suggests erosion rather than strengthening, as more cities continue to drift toward buyer leverage.

The fact that the market is still moving in favor of buyers after the Super Bowl is a concerning signal. In a typical strong season, active listings peak by mid February as rising demand absorbs available inventory. Last year, listings did not peak until late April, reflecting a weaker cycle. Early indications suggest 2026 is tracking a similar path, even though affordability has improved due to significantly lower mortgage rates compared with a year ago. This disconnect implies that interest rates alone are not enough to restore demand to normal seasonal strength.

“It is better to offer no excuse than a bad one.”
― George Washington

Have a great week, everyone!