The latest numbers from the Cromford® Report show the Valley housing market continuing to tip toward buyers. Its Cromford Market Index fell in every one of the 18 largest cities over the past month, with the average down about 15%. The good news for sellers is that the slide paused this week rather than speeding up. Here is what the data says, and what it means if you are buying or selling this fall.
What is the Cromford Market Index?
The Cromford Market Index, or CMI, is one of the most widely watched measures of the Phoenix-area market. It compares buyer demand with available supply in each city. A reading of 100 is a balanced market. Readings above 110 point to a seller’s market, where homes tend to sell faster and closer to asking price, and readings below 90 point to a buyer’s market, where buyers have more choice and more room to negotiate.
Where do Valley cities stand right now?
As of October 29, 2026, only three of the 18 cities are still seller’s markets: Scottsdale, Paradise Valley and Chandler. Chandler is barely holding on, sitting just above the balanced range at 110.5. Five cities are balanced, including Phoenix at 94.4, Fountain Hills at 99.1 and Cave Creek at 95.7. The remaining ten are now buyer’s markets, the most since December 2022.
Mesa (86.6) and Glendale (86.2) both slipped out of the balanced range and into buyer’s-market territory this month. Scottsdale still leads the rankings, but its lead over Paradise Valley has narrowed as Scottsdale’s supply has grown.
Which areas moved the most?
Fountain Hills saw the sharpest shift, with its index down about 30% from a month ago as supply rose and demand fell. Cave Creek, Paradise Valley and Peoria followed, each down roughly 20% or more. The smallest declines came in Maricopa, Avondale and Gilbert, where the index fell by about 8% to 10%.
Across the board, there are more homes for sale than a month ago in all 18 cities, and buyer demand is softer in 16 of them. Several cities have reached multi-year lows: Phoenix, Mesa and Glendale are at their lowest readings since late 2022, and Tempe, Peoria, Goodyear and Surprise are at levels not seen in well over a decade.
Is there any relief ahead for sellers?
The Cromford Report points to two encouraging signs. Thirty-year mortgage rates have eased to just under 7.3%, and the pace of new listings is starting to slow. If that continues, supply should stop growing over the next four to five weeks and begin to shrink as we head toward the end of the year, which typically helps balance the market again.
What does this mean if you are buying?
This is the most leverage buyers have had in several years across much of the Valley. With more homes to choose from and less competition in most cities, buyers can often take more time, negotiate on price and ask for concessions such as repairs, closing-cost help or a rate buydown. Conditions still vary widely by city and price point, so it is worth looking at your specific area rather than the Valley as a whole.
What does this mean if you are selling?
Pricing and presentation matter more than they did a year ago. Homes that are priced in line with current competition and show well are still selling, while homes priced for last year’s market tend to sit. If you are thinking about listing, understanding where your city and price range fall on the index is the best starting point for a pricing and marketing plan.
Every neighborhood tells its own story. If you would like to know what these numbers mean for your home or your search, reach out. We are always happy to walk through the data with you.
Source: The Cromford® Report, CMI Large City Ranking Table and market commentary, October 29, 2026. Cromford Market Index data © Cromford Associates LLC. Summary and commentary by the Glasshouse Collective.
