Phoenix Housing Market Snapshot: Buyer Momentum Slows Across Valley

The latest housing data across Greater Phoenix shows a more balanced market than we've seen in recent weeks. Nine cities became more favorable for buyers over the past month, while the other nine shifted in a direction more favorable for sellers. Gilbert, Queen Creek, and Maricopa jumped from red (buyer-friendly) to green (seller-friendly), and Phoenix followed suit, moving from neutral to favorable for sellers. Meanwhile, the strongest momentum for buyers came from Paradise Valley, Peoria, Goodyear, and San Tan Valley, though most cities improved by 5% or less.

The average change in the Cromford Market Index (CMI) was -0.6%, a sharp improvement from the -2.1% drop we saw last week. This tells us the market trend still slightly favors buyers, but that edge is fading fast. For context, a negative CMI change means conditions are improving for buyers, while a positive change signals improvement for sellers. With the slowdown in negative movement, it’s clear that seller momentum is starting to return.

What’s driving the shift? Supply has flattened out and is no longer climbing. At the same time, buyer demand is gaining modest traction enough to alter the balance of power in the coming weeks. If these conditions continue, we’re likely to see a full reversal before month-end, with more cities flipping back into seller territory. We’re watching closely to see how this trend plays out across December.

We currently have 6 cities classified as seller’s markets, 5 as balanced, and 7 still favoring buyers. It’s a tight race, and the margins are shifting fast. For a visual breakdown of where each city stands, scroll below to see the updated market snapshot chart, which gives you the full picture by city, so you can track how close we are to another turning point.

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Have a great week, everyone!