Thank you to everyone who came to the Party. We had so many school donations they covered almost my entire dining room table! Your generosity touched my heart!

Buyers - Homes under $400k are flying off the shelves!

Different price points behave differently, just as some cities perform better than others at various times of the year. Above, you'll see thathomes under $400k in many parts of the valley are HOT!

From another angle: on August 15 the pending listings for all areas and types show an average list $/SF of $316.16,down 1.1%from the reading for July 15. Thissuggests that closed prices are likely to fall furtherduring the next 4 to 5 weeks. PPPSSSTT!!!! Best time for an AMAZING DEAL!

As of 8/27/2025,mortgage ratesare at 6.51% for conventional, VA is at 6.09% and FHA is 6.08%. Compared to COVID times, these aren't exciting. However,they are at a 10-month low.That's something to celebrate!!!!

LOW

lthough supply has fallen over the last 2 monthsit is only slightly below normal. Demand has improved very slightly over the last 2 weeks but remains far below normal. The majority of Greater Phoenix remains in a buyer's market so thegeneral price trend will remain negative.

For the monthly period ending August 15, we are currently recording a sales $/SF of $283.82 averaged for all areas and types across the ARMLS database.This is down 1.6%from the $288.48 we now measure for July 15.

Housing prices will most likely continue to decline a little bit longer.However,reducing supply puts the market in a solid positionto begin changing this story when buyers begin to get excited again.

My Thoughts - Summary

Both personally and within the Market Cycle here in the Valley of the Sun, the bouncing between Despair and Hope has been as nauseating as not being able to get off a roller coaster even though you have a crushing migraine.

Fall often brings us a bounce in sales as snowbirds and those without kiddos in school wait to move until the summer is over. I'm putting it out there that it's time for the market to improve because I said so.

Now all we need is for it to happen!!!

Nancy Wittenberg