Phoenix Housing Market Sees September Surge in New Listings

The first week of September has brought a notable shift in the Phoenix housing market, just as predicted. New listings have jumped to approximately 2,200 per week, a pace we haven’t seen since May. Interestingly, about half of these listings are arriving right before the weekend, aligning with prime showing times, while the rest are distributed throughout the week. This fresh inventory injection adds new life to a market that had been tightening over the summer.

When compared to the same time last year, this listing rate reflects a 6.4% increase. Even more impressive, it's up 29% from September 2023. While still shy of the spring 2025 surge, when weekly new listings hit between 2,600 and 2,800, this increase may be enough to reverse the recent decline in the Cromford® Supply Index. If this pace holds, it could stabilize or even shift the market dynamic.

One key factor driving the uptick in listings is the recent dip in mortgage rates. As rates ease, more sellers appear willing to re-enter the market, many of whom are also potential buyers looking to move up. This dual-role participation increases activity across the board, benefiting agents and fueling transaction volume.

That said, it’s important not to oversimplify the role of interest rates. While lower rates typically attract buyers, they also motivate sellers, particularly those who previously felt “locked in” by their low-rate mortgages. The net impact on market balance remains to be seen and will depend on which side, supply or demand, responds more aggressively in the coming weeks.

"If you fell down yesterday, stand up today."
-H. G. Wells

Have a great week, everyone!