Over the past year, median sales prices have revealed a clear stratification across different housing markets in the Valley. By comparing monthly median sales prices with figures from 12 months ago, a consistent trend is emerging that luxury markets are holding their ground or even apprecia

The latest S&P/Case-Shiller® Home Price Index® offers a fresh look at the housing market, though the data lags real-time conditions. The newly released figures, covering February through April 2025, reflect transactions that typically closed around mid-March, making the data over three months old

The Phoenix-area housing market continues to slide in favor of buyers, reversing a short-lived trend of slowing declines. The average change in the Cromford Market Index (CMI) this week was 2.7 percent, slightly more negative than last week’s 2.5 percent. This marks a departure from the previous

The Greater Phoenix housing market continues to shift in favor of buyers, though the rate of deterioration has slowed for sellers. The average change in the Cromford® Market Index (CMI) now sits at -2.5%, a slight improvement compared to last week's -3.1%, marking the third consecutive week of re

As the Phoenix housing market shifts, foreclosures are slowly beginning to return to the radar. While mortgage delinquencies remain relatively low compared to rising defaults on credit cards and auto loans, May saw 389 new Notices of Trustee Sale issued in Maricopa County, up from 315 in May 2023

The real estate market continues to trend away from seller-friendly conditions, although the pace of deterioration has slightly slowed. The Cromford® Market Index (CMI) fell by an average of 3.5% over the past month, less negative than last week's 4.1% decline. Only four cities have improved for

A recent survey by BMO shed light on shifting mindsets among potential U.S. homebuyers, and some of the findings are downright shocking. It’s no surprise that nearly 70% of respondents said high mortgage rates are impacting their homebuying plans. For those who remember the 1980s and 1990s, rates

The real estate market has continued its gradual decline in favor of buyers, showing further deterioration for sellers over the past week. According to the latest Cromford® Market Index data, only four cities have improved for sellers in the past month, one less than the previous week, while thir

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