Another Drop In Phoenix Home Prices | Phoenix Real Estate Market Update

by Caitlin McKeague

Phoenix home prices are showing a 9% drop since March—but is that the full story? In this Phoenix housing market update, we break down the latest data from the Cromford Report, explain how luxury sales are impacting average prices, and explore what’s really happening in median home values. We’ll also look at four states predicted to see a future housing market crash—will Arizona make the list? Plus, we’ll review current inventory trends, buyer demand, and what’s happening with mortgage rates as the Fed meets this week. If you’re thinking about buying or selling in 2025, this is a must-watch update.