Greater Phoenix Housing Market Update | November 9, 2026
The Phoenix-area housing market is shifting toward buyers as November gets underway. According to the November 5 Cromford Report figures reviewed for this week's market update, all 18 major Valley cities recorded weaker Cromford Market Index readings over the preceding month, with an average decline of about 14.9%. That change reflects a shift in supply and demand, not a 14.9% drop in home prices.
What Changed in the Phoenix Housing Market?
More supply and softer buyer demand are shifting negotiating power in many Valley cities. Markets differ considerably: Scottsdale and Anthem remain relatively seller-favored, while Peoria and Surprise offer buyers more leverage.
Key Market Highlights
All 18 Major Cities Weakened
- The average Cromford Market Index fell approximately 14.9% over the previous month.
- All 18 large cities registered declines.
- Increasing supply and softening demand put greater pressure on sellers to price competitively.
Phoenix Nears Buyer-Market Territory
- Phoenix: CMI 91.5, down approximately 12% in a month.
- That places Phoenix in the balanced range, but close to the buyer-market threshold.
- Individual neighborhoods and price ranges may perform differently.
Anthem Remains Relatively Strong
- Anthem: CMI 117.7, down approximately 12%.
- Its index still favors sellers, despite weakening conditions.
How Are Local Housing Markets Performing?
Selected November 5, 2026 Cromford Market Index readings and approximate four-week changes:
- Scottsdale: 129.8 (down 14%)
- Paradise Valley: 112.5 (down 20%)
- Chandler: 106.2 (down 13%)
- Phoenix: 91.5 (down 12%)
- Cave Creek: 91.4 (down 24%)
- Anthem: 117.7 (down 12%)
- Peoria: 66.3 (down 19%)
- Goodyear: 56.7 (down 22%)
- Surprise: 55.9 (down 12%)
As a practical guide, CMI above 110 generally favors sellers, 90-110 is balanced, and below 90 favors buyers. A change in CMI does not equal the percentage change in home prices.
What This Means for Phoenix-Area Home Sellers
Competition Is Increasing
Buyers in many locations have more properties to compare. Listings that miss the market on price may sit longer or need reductions. Well-prepared homes with realistic asking prices can still attract qualified buyers.
Neighborhood-Level Pricing Matters
A market index for an entire city cannot tell you exactly what your home is worth. Comparable sales, competing listings, condition, and location are key. See Scottsdale homes for sale to understand the local competition.
What This Means for Phoenix-Area Homebuyers
More Room to Negotiate
Depending on the home and neighborhood, buyers may have opportunities to negotiate price, repairs, closing-cost assistance, or financing concessions. Peoria and Surprise are particularly buyer-friendly based on their index readings.
Look Beyond the Headline Numbers
Well-priced properties can still move quickly. Compare active listings and recent sales within the community you are considering, and evaluate the full monthly payment before making an offer.
Joe's Take: The Market Is Shifting, but Not Everywhere Equally
I've been watching the gap between stronger markets like Scottsdale and Anthem and more buyer-friendly areas such as Peoria, Goodyear, and Surprise. The important point is that every major city weakened over the past month, but the pace and implications vary by community.
For buyers, more options can mean better negotiating opportunities. For sellers, accurate pricing and presentation are becoming more important. The Cromford Market Index measures bargaining conditions, not the percentage by which prices have risen or fallen.
If you would like to understand conditions in your particular neighborhood or price range, contact me and I'll help you review the local numbers.
Featured Scottsdale Community: McDowell Mountain Ranch
This week's featured community is McDowell Mountain Ranch in North Scottsdale. Its setting near the McDowell Mountains appeals to buyers who value desert scenery and nearby recreation. The area is served by McDowell Mountain Ranch Park and Aquatic & Fitness Center, and the Scottsdale McDowell Sonoran Preserve offers trails nearby.
Explore McDowell Mountain Ranch homes for sale and neighborhood details. The neighborhood page includes an updated MLS search so you can see currently available properties rather than a static list.
Joe Gamons, REALTOR®
ABR® | RENE | PSA
Cerreta Realty Group
480-815-1927
www.joegamonsrealtor.com
Market data: Cromford Report, November 5, 2026, as used in this week's market mailer. For additional background, visit the Cromford Report. Community amenity details: City of Scottsdale.