The housing market is...uncertain | Phoenix Real Estate Market Update

by Caitlin McKeague

Is the housing market really becoming “fragile”… or just shifting?

In this Phoenix housing market update, we’re breaking down the latest data, including inventory levels, buyer demand, mortgage rates, and what’s actually happening on the ground right now.

We’ll also look at a recent national report claiming the housing market is fragile — and compare that to what we’re seeing here locally in Phoenix.

We'll chat about:

Phoenix Cromford Market Index (CMI) + what it means

Inventory trends vs buyer demand

Why some homes are getting multiple offers (and others aren’t)

Seller concessions (over 50% of deals right now 👀)

Mortgage rates and how they’re impacting buyers

Real agent predictions for the 2026 housing market

Why appreciation is NOT what it used to be

The Phoenix market is shifting, but it’s not the same everywhere — and understanding these trends can help you make smarter decisions whether you're buying or selling.