Current Market Data

RE/MAX: Phoenix home sales rise year over year in August 

The decline in sales came as a 17-month run of year-over-year increases in new listings came to a close.

Fed cuts rates by quarter point, nods to further reductions 

The move was widely anticipated and is expected to be followed by additional cuts this year. 

mortgage applications
Mortgage applications jump almost 30% ahead of anticipated Fed rate cut 

The jump in mortgage activity was driven in large part by refinancings, which surged 58% in the week ended Sept. 12. 

August single-family construction falls to slowest pace since July 2024 

At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

Builder outlook hits 6-month high on rate-cut expectations 

The National Association of Home Builders said its monthly builder-confidence survey indicated rising optimism that lower interest rates could spur new-home buying activity. 

The 10 most expensive homes sold in Arizona in August

Multiple penthouses are among the top 10 most expensive homes sold in Arizona last month.

Closings rise 5% in Maricopa County, but pending listings plummet

Active listings rose 24.2%, with 14,596 homes on the market, despite the fact that new listings dropped 12.4% annually.

mortgage applications
MBA: Mortgage applications hit highest level since 2022 

The surge comes as the rate on a 30-year fixed-rate mortgage fell to its lowest level since October 2024. 

Cotality notes further movement toward buyer’s market in latest Home Price Insights report 

The rate of home-price appreciation slowed to just over half the rate of inflation in July, Cotality noted. 

MBA: 30-year mortgage rate falls to lowest level since April 

Despite the decrease in borrowing costs, the Mortgage Bankers Association’s Market Composite Index showed a decrease in mortgage applications in the week ended Aug. 29. 

The 10 most expensive new listings in Arizona

Mountain views are on the menu for this month’s list of the 10 most expensive new listings in Arizona.

Southern and Western markets lead as new-home affordability grows

Despite a slowdown in single-family construction activity, newly built homes are becoming increasingly accessible to American buyers, in terms of both availability and affordability. According to data from the New-Construction Insights report released by Realtor.com, in the second quarter

Pending-home sales soften in July on economic anxiety 

Signed contracts declined despite lower interest rates and improved affordability and inventory, the National Association of REALTORS® said.   

Case-Shiller: Phoenix home-price growth slides in June, as national market undergoes ‘decisive shift’  

The pace of home-price appreciation declined to its slowest pace in two years, according to the S&P Cotality Case-Shiller U.S. National Home Price Index. 

Phoenix is building more new apartments than almost any other city

Phoenix isn’t the only southern city packing in new apartments, though. Over half of all new U.S. apartments in 2025 — which equates to over 265,000 units — are located in the south.

July new-home sales top expectations  

The upside surprise came despite monthly and yearly declines in the pace of sales. 

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