Market Update: Buyer Momentum Accelerates
- Brad Daniels
- Apr 7
- 3 min read
This week’s market update is all about momentum—and it’s moving in favor of buyers. While the shift has been gradual, it’s picking up steam across much of the Greater Phoenix area, and it’s something both buyers and sellers should be paying attention to.
13 Cities Shift Away from Sellers
Over the past month, 13 cities have experienced less favorable conditions for sellers, while only four have seen improvements. Here’s the breakdown:
Top Gainers
Avondale leads with a strong 13% gain
Glendale follows with a 4% improvement
Surprise shows a 3% uptick
Maricopa gained 1%, which is barely noticeable
Biggest Drops Favoring Buyers
Tempe, Scottsdale, Cave Creek, Peoria, and Goodyear have all shifted more substantially toward buyer-friendly territory.
The average monthly CMI* (Cromford Market Index) change is now -3.0 %, up slightly from -2.7 % last week. This continues a softening trend that began two weeks ago.
Current Market Conditions
8 cities remain seller’s markets, but just barely
3 cities are balanced
6 cities are officially buyer’s markets
Only Chandler is above a CMI of 120, and it’s clinging to that status
This is a clear signal that the market dynamic is shifting—and it may not be temporary.
Mortgage Rates, Consumer Sentiment, & Other Influencers
There are a few factors contributing to this trend:
10-year treasury yields have dipped below 4%, a hopeful sign for future mortgage rate relief
However, 30-year fixed mortgage rates have only declined modestly
Consumer confidence is weakening, potentially causing buyers to delay major purchases
Foreclosures remain low, but we’re seeing a rise in trustee sale notices and a slow creep in unemployment
These are subtle shifts, but after years of stability, they’re worth watching closely.
What This Means for Buyers & Sellers
For Buyers: There’s a growing window of opportunity. More inventory, softening prices in some areas, and less competition can mean better deals and more negotiating power.
For Sellers, it’s time to be strategic. Proper pricing, presentation, and realistic expectations are critical in this evolving market. Overpricing a home right now could mean it sits on the market longer or needs a price cut.
Bottom Line: The market is softening Buyer opportunities are improving Sellers need to price wise and act quickly
We would love to chat if you’re wondering how this shift affects your neighborhood or next move. Whether you're thinking about buying, selling, or investing, staying up-to-date on the market is crucial.
*Cromford Market Index™ is a value that provides a short term forecast for the balance of the market. It is derived from the trends in pending, active and sold listings compared with historical data over the previous four years. Values below 100 indicate a buyer's market, while values above 100 indicate a seller's market. A value of 100 indicates a balanced market.
Housing Market
Private residential construction spending rose more than expected in February. A mortgage-rate decline boosted single-family homebuilding.
Inventory growth helped purchase apps reach their highest level since January. Apps were 2% higher than the prior week and 9% higher year over year.
Economy
According to the JOLTS report, job openings fell more than expected in February, and Federal government layoffs hit a four-year high.
Wednesday's tariff announcement rocked the markets. Stocks sold off, pushing mortgage rates to a monthly low.
In March, the service sector grew slowly in 9 months, amid government cuts and business uncertainty over tariffs.
Have a great week. I am always available to answer your real estate questions.
Contact me at (602) 679-1025 or email me here!
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