HousingSunday, November 15
Metro Phoenix's housing market tilts further toward buyers, but sales aren't picking up
The Good Day Chandler team
If you've been waiting to buy, the Valley's market is leaning your way. Metro Phoenix's active listings rose 6.8% from a year earlier to 27,427 in October, while listings under contract dropped 13.5% to 6,347. The Cromford Market Index, where anything under 100 favors buyers, fell to 70.1.
The Cromford Market Index has fallen each October since 2024
Source: AZ Big Media
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| Cromford Market Index each October | |
|---|---|
| Oct. 2024 | 92.6 |
| Oct. 2025 | 78.8 |
| Oct. 2026 | 70.1 |
Don't expect a rush, though. Cromford Report analyst Tina Tamboer said about 22% of contracts accepted four to five weeks earlier had fallen through, and she suggested mortgage rates and trouble qualifying for loans could play a part. The weakness shows most among cheaper homes. As the slow holiday stretch nears, she told her audience, "We are going to have a spring."
About 22% of recent Valley contracts fell through
22%of contracts accepted four to five weeks earlier had fallen through
Source: Queen Creek Tribune
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| Value | |
|---|---|
| of contracts accepted four to five weeks earlier had fallen through | 22% |
- Median sales price: $448,000 in October, down 1.5%
- Closed sales: 5,155, down 9.8%
- Median time to a contract: 50 days, versus 53 last October
- Condo median: about $307,000, down from a two-year high of about $345,000
Sources: Queen Creek Tribune, AZ Big Media