September brought a few notable shifts in the U.S. housing market. Pending home sales turned slightly negative year-over-year, pausing an 8-month stretch of gains as higher borrowing costs cooled some of the earlier buyer enthusiasm. Contract signings softened, homes spent an average of 60 days on the market, and mortgage rates climbed from roughly 6% in late Q1 to the high-6% range. For those looking to buy, there was a bit more leverage: the median list price dipped to $424,500, price cuts touched about 20% of listings, and active inventory nudged up by approximately 4%. Even so, national inventory was still about 11% below pre-pandemic norms, highlighting the ongoing shortage beneath the surface—even as buyer momentum slowed.

After nearly two decades in Arizona real estate, I’ve seen these cycles up close. What stands out this season is how pricing strategy and seller decisions—like delisting—are shaping both opportunity and challenge. It’s a unique time for both buyers and sellers to watch not just national headlines, but also how trends play out across our local neighborhoods. As always, I’m focused on helping families navigate these changes and find the home that truly fits.

A listings platform reviewed current public luxury sales across major US metros, finding top transactions ranging from $3.7M to $130M across local markets.
The highest recorded sale reached $130M, while other leading transactions landed at $47M, $40.2M, $40M, $21.2M, $19M, $18M, and $17.5M nationwide.
At the high end, four standout markets still had fifth-place transactions above $10M, showing especially deep luxury pricing compared with other major metros.
One market showed the tightest spread among its five priciest sales, with values running from $24M to $40M in the current period.
This snapshot covered publicly marketed properties from listing systems and could miss private deals; in nondisclosure markets, top figures reflected listing prices instead.

Guiding first-time homebuyers in Arizona is one of my favorite aspects of this business—there’s something special about helping you find not just a house, but the place you’ll call home. Over my 17 years in Arizona real estate (with roots in lending before that), I’ve seen how setting a financial foundation early makes all the difference. Start by reviewing your credit, tackling revolving debts, and holding off on any new financing until you’re ready to begin your home search. Many first-time buyers are surprised to learn that you don’t always need a massive down payment: conventional loans can start as low as 3%, FHA at 3.5%, and there are excellent state and county assistance programs available. When it comes to getting your numbers in order, remember that pre-qualification is just a starting point—a true pre-approval will verify your documents, check your credit, and show sellers you’re ready to move forward. In our unique Arizona climate, I always remind clients to pay close attention to the age and condition of HVAC systems, insulation, roof underlayment, and sun exposure, since these factors can have a real impact on your comfort and ongoing costs. Once your offer is accepted, you’ll enter escrow and have the chance to hire an independent inspector—this is your opportunity to request repairs or, if needed, walk away and recover your earnest money. From Gilbert to Buckeye, and everywhere in between, my goal is to make sure you feel supported and confident throughout each step of the process.

We’re seeing a shift in the housing market this month. Over the four weeks ending August 23, there was a slight uptick in new US listings (up 0.4%) and total homes for sale (up 0.5%), pushing inventory to its highest level since early Q2. At the same time, pending home sales dropped by 1.1%—hitting a six-month low. With mortgage rates hovering near 7% (the highest in 13 months) and the median home-sale price up 1.9% year-over-year to over $400,000, it’s clear that high housing costs are causing many buyers to pause, even as more options become available nationwide.

For buyers in today’s market, rising inventory and softer demand mean there’s more room to negotiate—whether it’s on price or concessions. In my experience, homes that have been on the market for several weeks often offer the best opportunities for buyers to secure favorable terms. For sellers, realistic pricing is key; chasing last year’s prices rarely pays off. After nearly two decades in Arizona real estate—including time on both the loan and commercial sides—I’ve found that tailored guidance makes all the difference. Whether you’re looking for your next home or thinking about selling, understanding these trends is crucial for making confident decisions.

Labor Day in the United States celebrates the contributions of workers everywhere, while also unofficially marking the final big summer weekend before fall takes over.
It’s known for backyard barbecues, road trips, and that classic tradition of buying things you didn’t know you needed because “it’s on sale.”
Beaches, parks, and grills reach peak activity as everyone tries to squeeze every last drop of summer fun out of the long weekend.
Happy Labor Day! Wishing you a fun, easygoing weekend filled with good vibes, great food, and absolutely no thoughts about Monday.