What happens when interst rate goes down?- Arizona Housing Market Update 

The Arizona housing market continues to cool down this fall — but don’t mistake that for a crash. After months of giving buyers more leverage, the pace of change is finally easing. This means the market is heading toward a more balanced environment where both buyers and sellers have reasonable opportunities.

This week’s Cromford® Market Index shows the shift is easing. The average monthly change improved from –2.6% to –2.1%, meaning the strong buyer advantage we saw this summer is starting to level out.

Still, 13 of 18 major cities became more favorable for buyers.
• 🏡 Sellers gaining ground: Tempe, Buckeye, Fountain Hills, Chandler & Gilbert.
• 💰 Buyer-friendly spots: Peoria, Goodyear, Scottsdale & San Tan Valley.

At a glance:
🔹 6 Seller’s Markets
🔹 5 Balanced Markets
🔹 7 Buyer’s Markets

Arizona is now entering a steadier phase — not extreme for either side.

More sellers are listing homes as mortgage rates dip slightly and fall activity picks up. 🍂
However, demand is still below normal, so buyers are moving carefully while sellers compete harder for attention.

Buyers can still negotiate with confidence, especially in mid-priced neighborhoods, while sellers should stay flexible and strategic with pricing.

Nationally, home prices are cooling. Phoenix ranked 18th out of 20 cities, with prices down –0.9% month-over-month and –1.68% year-over-year.

While other metros like Chicago and New York saw gains, the South and West (including Arizona) faced sharper pullbacks. 📉

Still, homes in Phoenix remain far more valuable than pre-pandemic — this correction is part of a healthy, long-term market cycle. 🌅