Real Estate News and Auction

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Are home prices actually rising — or falling? The headlines say Phoenix home prices just hit a record high, but when you adjust for inflation, the typical Phoenix home is cheaper now than at any point since early 2024. In this week's Phoenix housing market update, I break down the new Cromford Report data so you can see what's really happening.

Here's what we cover:
▪ Why Redfin says prices rose 3% — and why that's not the full story
▪ Inflation-adjusted home prices in Greater Phoenix (the chart that changes everything)
▪ Which homes got cheaper (twin homes down almost 14%) and which got more expensive (luxury up 18%)
▪ Mortgage rates near 7% — what the Fed's latest decision actually means for buyers
▪ Phoenix inventory update: 24,000+ active listings and why that's actually normal
▪ City-by-city breakdown: which Valley cities are buyer's markets vs. seller's markets right now

Find out how to get help with the down payment to buy a home.

We say it EVERY time because it's true:

Don't wait. These homes sell quick! 

Own more home for less payment.

Incentives based on the Est Move In Date: 

Move In This August

• FHA: 3.75% Fixed Rate + Up to $10,000 toward closing costs
• Conventional: 4.125% Fixed Rate + Up to $10,000 toward closing costs

  Move In This September

• FHA: 4.50% Fixed Rate + Up to $10,000 toward closing costs
• Conventional: 4.875% Fixed Rate + Up to $10,000 toward closing costs

  Move In October / November

• FHA: 4.75% Fixed Rate + Up to $10,000 toward closing costs
• Conventional: 4.99% Fixed Rate + Up to $10,000 toward closing costs

  Looking for the Lowest Payment?

Adjustable-rate options are also available:

• 7/6 ARM (Conventional): 3.50%–3.99% (depending on closing date)
• 5/1 ARM (FHA): 3.375%–3.99% (depending on closing date)

  Need Help With Your Down Payment?

Down Payment Assistance Program

• 5.25% FHA Financing
• 100% Financing available for qualified buyers
• Available on August move-ins

 LIST FOR EAST VALLEY HOMES: East Valley List

LIST FOR WEST VALLEY HOMES: West Valley List

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Starter inventory rose 4.5% while luxury inventory fell 5.2% in June; Zillow's BuyAbility tool estimates a home price and monthly payment for buyers.

How the city’s mayor incites violence against Jewish New Yorkers under the guise of anti-Zionism. - Seth Mandel - 

A new national ranking of the best U.S. cities for office investing just came out, and Arizona markets are split.