09/14/2026
September market update is up. Chelsea Anderson here, working Mesa, Gilbert, Chandler and Phoenix.
Short version: rates kicked up over 7% in the last couple of weeks, and anything payment dependent got quiet. The drop is sharpest under $500,000, which is our first-time buyer range here locally. Open house traffic is down. Showings are down. We are now running below last year on buyers getting under contract, after being slightly above last year earlier in the season.
Here is the part that does not make the headlines: if you are buying under $500,000 and you can carry the payment at today's rate, you have very little competition right now. That is real negotiating leverage, and it lasts exactly as long as rates stay where they are.
Move up into the $500,000 to $800,000 range and it changes. I am seeing multiple offers on the good homes in Mesa around $600,000.
Condo owners, separate heads up and this one has a date on it: January 4, 2027. On that date your HOA's budgeted reserve line has to be 15% of assessments instead of 10% or conventional loans stop getting approved in your complex. That comes from Fannie Mae and Freddie Mac, so it is nationwide and it does not matter which lender you use. Boards are writing their 2027 budgets this fall, which means it gets decided now, not in January. Get your HOA budget and master insurance policy, both free to you as the owner, and check what the reserve line says. Confirm the details with your lender.
This market is neighborhood by neighborhood, zip code by zip code, city by city. If you want to know what your specific situation looks like, call or text me at 602-748-6136.
It is never the wrong time to buy the right piece of real estate.
Full written breakdown: https://andersonsignature.com/september-2026-east-valley-market-update-rates-condos/
September 2026 market update for Mesa, Gilbert, Chandler, and Phoen...