AZ Real Estate Chat

06/10/2026

Wednesday Afternoon Market Update: ARMLS stats show that our median price inched up slightly in May, with projections for June indicating that it will tick back down this month. As you can see on the chart below, while the *average* price has had some notable ups & downs, our *median* price has been very stable for the last year.

06/03/2026

Wednesday Morning Market Update: As expected, our market activity picked up a bit after dipping across the Memorial Day weekend. But the number of active listings, and the number of homes under contract, are both lower than they have been since February. While individual properties will have different results, this is more confirmation that we are entering our generally slower summer season.

05/27/2026

Wednesday Morning Market Update: According to a new report by Realtor.com, the Phoenix market leads the nation in price reductions on our listings. In April, nearly a third of active listings saw price reductions. This is a sign of two things: first, that sellers are overly optimistic with a market that is still adjusting to higher interest rates and lower demand; and second, that savvy sellers are not waiting around for the market to change. You can see the full article here:

While prices seem to have bottomed across the nation, there are still metros where discounts are flowing freely.

05/20/2026

Wednesday Morning Market Update: As we predicted last week, our pace of showings was up this week, but not up to the level that we saw earlier in the year. And the coming week will likely drop again, with plenty of people traveling or otherwise engaged for the Memorial Day Weekend. With the end of the school year, and the summer heat, fast approaching, our rate of showings is expected to trend down for the next several months.

05/13/2026

Wednesday Morning Market Update: The number of property visits has dropped a little each week for the last 4 weeks, and dropped more steeply last week. Holiday weekends like Mother's Day often see a decline in showings, as families focus on other activities, so I expect the number will climb back up a bit this week. But the trend remains clear, and is another indication that we are moving out of our "busy season" and into the typically slower summer portion of our sales cycle.

05/06/2026

Wednesday Afternoon Market Update: We talked about the need for more affordable housing last week, and some proposed legislation to make it more widely available. Even without those changes, Chandler is rolling out a new affordable apartment complex near the downtown area, and asking interested applicants to sign up for a lottery for available spaces. Every little bit helps! You can learn more about that here:

A new affordable housing waitlist is now open in Chandler for Villas on McQueen, a development near McQueen Road and East Trails End Place.

04/29/2026

Wednesday Morning Market Update: The number of homes under contract, and the number of homes sold in the last 90 days, are both up over the last several weeks. But the number of active listings, and the number of coming-soon homes, are both down a bit recently. That may indicate that we are easing out of our busy spring season & shifting towards a slower summer season.

04/22/2026

Wednesday Morning Market Update: We talk a lot about the need for more affordable housing in AZ, and a bill working its way through the legislature aims to provide that by preventing cities from imposing design standards on new housing developments. Supporters say it would let builders reduce costs; opponents worry about sub-standard construction and neighborhoods with no amenities. You can read more about it here:

Arizona House proposal aims to lower housing prices by blocking city design standards, but critics argue it could lead to poorly built homes.

04/15/2026

Wednesday Morning Market Update: After a bit of a lull over the Easter weekend, we saw showings pick back up over 28k last week. The number of active listings has risen through the spring, but only about 5% since the start of February. Interest rates and overall uncertainty continue to act as brakes on our market.

04/08/2026

Wednesday Morning Market Update: Pricing was up a bit in March, likely related to some easing of interest rates at the start of the month. But ARMLS projections show that we are expecting a notable dip in April, likely related to the sharp bump in rates that came with war in Iran.