Phoenix Housing Market Update: Buyer Advantage Grows as Market Softens.

The latest data shows a shift in favor of buyers—but that shift, which had been slowing in recent weeks, is now beginning to accelerate again. Over the past month, 14 cities have seen conditions deteriorate for sellers, while only four cities have shown improvement. Notably, Cave Creek is no longer in the improving group.

The average change in the Cromford Market Index (CMI)* over the past month is -1.9%, compared to -1.5% last week. While the difference is slight, it marks the end of a 4-week trend of deceleration and the beginning of a new phase of market softening.

Tempe and Queen Creek, which includes San Tan Valley, are the fastest-declining markets. All other declining cities saw CMI drops of less than 7%.

As of now:

Nine cities remain in seller’s markets, but none are strongly favorable to sellers—all have a CMI below 141.

Three cities are balanced, and

Five cities are in buyer’s markets, with Maricopa and Buckeye especially favoring buyers.

Avondale and Glendale shifted from balanced markets to very weak seller’s markets, joining Phoenix, Tempe, Fountain Hills, and Gilbert in the soft zone between a CMI of 110 and 120. Only three cities are above 120.

Even though we’re typically at the peak of the buying season, supply continues to outpace demand. This is further confirmed by reports from homebuilders, who are experiencing underwhelming sales despite offering elevated incentives.

Cromford Market Index™ is a value that provides a short-term forecast for the balance of the market. It is derived from the pending, active, and sold listings trends 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

• Existing home sales unexpectedly increased in February as rising supply and falling mortgage rates pulled buyers back into the market.

• Housing starts were stronger than expected in February, though builders faced persistent labor and buildable lots shortages.

• Builder confidence fell to a 7-month low in March due to economic uncertainty, tariff threats, and elevated construction costs.

Economy

• The Fed kept its policy rate unchanged at the March meeting. Fed members are expected to cut policy rates twice in 2025.

• Retail sales were up less than forecast in February, and January was revised downward to mark the most significant drop since July 2021.

• Initial jobless claims rose slightly last week. Continuing claims also rose, with more people remaining jobless longer than a year ago.

How to Pick the Right Movers for Your Arizona Relocation

Moving to Arizona? Choosing the right moving company can make all the difference in ensuring a smooth transition. Here’s what to look for when selecting the best movers for your needs.

1. Check Reviews & Recommendations

Research online reviews on Google, Yelp, and the Better Business Bureau (BBB). Ask friends, family, or your real estate agent for trusted recommendations.

2. Verify Licensing & Insurance

Ensure the movers are licensed and insured. Interstate movers should have a U.S. DOT number, while Arizona-based movers must be registered with the Arizona Corporation Commission.

3. Get Multiple Quotes

Request at least three in-home or virtual estimates. Be cautious of quotes that seem too good to be true—they often are! A reputable mover provides a detailed breakdown of costs. Brad’s #1 Tip: Many moving companies offer quotes over the phone or via Zoom, but I’ve found that these estimates often increase on moving day. The most accurate quotes come from companies that send a representative to assess your furniture and belongings in person. This ensures transparency and helps avoid unexpected costs.

4. Understand the Contract

Read the fine print! Confirm if the estimate is binding (fixed price) or non-binding (subject to change). Ask about additional fees for stairs, long carries, or special packing.

5. Ask About Experience in Arizona Moves

Arizona’s climate and terrain require special considerations, like heat-sensitive packing and navigating desert roads. Movers experienced in the area will handle your belongings with care.

6. Inquire About Storage Options

If your new home isn’t ready immediately, see if the movers offer short-term or long-term storage solutions to keep your belongings safe.

7. Look for Added Services

Some companies offer packing, unpacking, and furniture assembly, which is worth considering if you want a hands-off move.

Final Tip: Trust Your Instincts

Move on if a company seems shady or pressures you into a quick decision. A trustworthy mover will be transparent and professional from start to finish.

Do you need recommendations for reliable movers in Arizona? Feel free to contact me—I’m happy to help make your relocation as seamless as possible!

The valley weather is heating up quickly! It may be a good time to call your HVAC professional and get your units checked and serviced.