Arizona Market at a Glance

🏡 Inventory: Rising Into the Holidays

Phoenix-area inventory continued its slow seasonal rise.

The East Valley—Gilbert, Chandler, and Queen Creek—saw the strongest gains, with 4–6% week-over-week increases. Listings sitting past 30 days are experiencing light but noticeable price reductions.

📉 Demand: Soft but Stable

The Cromford Demand Index hovered between 85–89, signaling a soft buyer’s market—but not a weakening one. Weekend showings ticked up thanks to cooler weather and early holiday traffic.

💲 Pricing: Flat but Negotiable

Median price across the metro remains steady around $450K. Higher-priced East Valley homes continue to attract strong interest, but the increase in inventory is giving buyers more negotiating power than earlier in the year.

🔐 Affordability: Insurance Costs Still Rising

Homeowners insurance premiums continue climbing in Arizona:

• 8–12% increases

• Carriers like Goosehead and 🔗JELMs reporting higher renewals

• Impact: higher DTIs, more FHA usage, and increased pressure on monthly affordability

Insurance is becoming a bigger part of the conversation with both buyers and homeowners.

🔧 New Construction: Incentives Dominate

Builders remain aggressive with incentives across the Valley, especially in communities with ample year-end inventory.

Popular incentives include:

• 2-1 buydowns

• 3–5% closing cost credits

• Price reductions on spec homes coming online before the holidays

Queen Creek and Maricopa remain the incentive hotbeds, while Chandler and Gilbert remain tight and highly desirable.

Sources

• Cromford Report
  🔗 https://www.cromfordreport.com/

• Phoenix Business Journal – Housing Market Coverage
  🔗 https://www.bizjournals.com/phoenix/news/topics/residential-real-estate

• ARMLS (Arizona Regional MLS) – Market Data
  🔗 https://armls.com/statistics

• Gooshead Insurance
  🔗 https://goodheadinsurance.com/

• JELMs Insurance
  🔗 https://www.jelmsinsurance.com/