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News and Commentary
Market Summary for the Beginning of October 2026
The market in early October has completely reversed the encouraging signals we reported a month ago. At the start of September, pending listings, listings under contract, and the contract ratio had all moved back above their levels of a year earlier. That has not held. All three fell sharply during September and are now well…
Maricopa Affidavit Statistics for September 2026
September 2026 had 21 working days, the same as both September 2025 and August 2026, so neither comparison needs any calendar adjustment this month. Total closings came in at 5,628, down 5.1% year-over-year, a smaller decline than August’s 7.8% but still a genuine one. New home closings fell 15.6%, and resales fell 2.2%. Month over…
CMI Large City Ranking Table October 1, 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.
September Knocks the Wind Out of the Cromford® Market Index
The Cromford® Market Index has had a rough September. Over the 30 days to September 29, the index fell in 17 of our 18 major cities, and the average city lost 10.5% of its reading. Scottsdale was the only city to improve, and only just, from 154.4 to 155.3. To put that in context, September…
S&P/Cotality Case-Shiller Indexes for September 2026
The latest S&P Cotality Case-Shiller® Home Price Index® numbers were published today. The new report covers home sales from May to July 2026. This means the typical home sale closed in mid-June, more than 3 months ago. We should remember that Case-Shiller data is based on older sales and does not include data from August…
Arizona Building Permits: The Decline Has Stalled, at a Low Level
The Census Bureau released its August 2026 building permit figures last week. They suggest the long slide in Arizona single-family permits has stalled, though at a low level we haven’t seen in years.
Is Coming Soon Worth the Trouble?
We compared Coming Soon listings with the same agents’ listings that went straight to Active. Coming Soon lowers the days-on-market figure, but it does not raise the price and it makes the sale slower.
Mortgage Rates Rise at an Unusual Pace
Mortgage interest rates have risen more than 50 basis points in the last 16 days, with the 30-year fixed rate up from 6.89% to 7.45%, according to Mortgage News Daily. Although this isn’t the fastest jump we’ve ever seen, it’s unusually quick. Such a sudden jump happened only three times between 2010 and 2019, but…
CMI Secondary City Ranking Table – September 24, 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.