The market in early November is clearly weaker than it was a month ago, and the weakness now shows in almost every measure. Supply rose faster than it did last fall, contract activity fell, and the contract ratio is at its lowest level since February 2009. Closed listings also dropped sharply during October, as we…
Observations
Maricopa Affidavit Statistics for October 2026
October 2026 had 21 working days, the same as September 2026 but one fewer than the 22 in October 2025, so we should expect about 4.5% fewer closings year-over-year from the calendar alone. The actual decline was far larger. Total closings came in at 5,169, down 14.7% year-over-year, or 10.6% per working day, and that…
The Average $/SF Went Up 4.0% Last Month. The Typical Home Did Not.
Two numbers on our expanded Daily Market Snapshot moved in opposite directions last month. For all areas and types, the average price per square foot rose from $293.21 on October 1 to $305.01 on November 1, a gain of 4.0%. The median fell from $251.88 to $250.12, down 0.7%. Those two readings cover closings during…
CMI Secondary City Ranking Table – October 29, 2026
The monthly Cromford® Market Index ranking for the secondary Greater Phoenix cities, showing where each city sits now and how it has moved over the past month.
CMI Large City Ranking Table October 29, 2026
The weekly Cromford® Market Index ranking for the 18 largest Greater Phoenix cities, showing where each city sits now and how it has moved over the past month.
Luxury Homes Near the Center Are Pulling Away
Expensive homes close to the center of the Phoenix area have seen much stronger price gains over the last three years than expensive homes on the fringes. We compared 53 neighborhoods, measuring the typical price per square foot for detached homes over the 12 months to August 2026 against the 12 months to August 2023….
Arizona Building Permits: A Weak September Against an Unusually Strong One
The Census Bureau’s September 2026 building permit figures show Arizona single-family permits down 26% from a year earlier, after three months of running close to last year’s level. That headline overstates the change. Much of the gap comes from September 2025, which was the strongest September relative to its August in our records. Single-family: a…
S&P/Cotality Case-Shiller Indexes for October 2026
The latest S&P Cotality Case-Shiller® Home Price Index® numbers were published today. The new report covers home sales from June to August 2026. This means the typical home sale closed in mid-July, more than 3 months ago. We should remember that Case-Shiller data is based on older sales and does not include data from September…
It Isn’t Time on Market That Sells a Home. It’s Time at the Right Price.
A home that spent seven months on the market did not take seven months to sell. It took six and a half months to reach the right price, and then it found a buyer in about two weeks. That is the clearest message from our new chart, Price Changes, Days at the Final Price and…
CMI Large City Ranking Table October 22, 2026
The weekly Cromford® Market Index ranking for the 18 largest Greater Phoenix cities, showing where each city sits now and how it has moved over the past month.