Author: Denise McGuire

As someone who’s called Arizona home for decades, I keep a close eye on shifts in the national housing market and what they might mean for folks right here in our community. Early this Q3, US existing-home sales dipped 1.7% month-over-month but still managed a 0.7% yearly increase—meaning completed transactions are holding steady compared to last summer. The median existing-home price reached $434,100, marking 37 straight months of annual price gains. That’s a big deal for homeowners keeping an eye on their growing equity. Inventory ended the period at 1.54 million homes, down 1.9% from the previous month and 0.6% from last year, so buyers still need to be sharp and quick on new listings in this tight market. Despite rising prices, housing affordability actually improved nationwide—so if you’re prepared, you might find opportunity when the right home, price, and timing align. With mortgage rates hovering in the high-6% range for a 30-year fixed loan, any shift downward could make a real difference for buyers as summer rolls on. My focus is always on making sure you feel supported and informed, every step of the way.

There’s a common belief that price stability is achievable, but the reality is far more complex—especially here in the US. When prices rise for one thing, like hotel rooms or sports tickets, it’s often because our spending habits shift, not because everything gets pricier across the board. Meanwhile, technology keeps getting cheaper—think about how supercomputers now fit in our pockets! Yet, we see the cost of unique experiences and essentials like tuition going up.

It’s a reminder that the Federal Reserve doesn’t have the power to truly stabilize all prices, since global production and millions of daily transactions shape what things actually cost. The idea of a dollar that holds steady value sounds good, but in practice, it could unlock investment and push some prices down while making the rarest goods even pricier.

For those of us living and working in Arizona, I see how price shifts reflect not just challenges, but real economic progress—sometimes moving us forward, not backward. Helping clients navigate these changes has always been a priority for me, and I bring that dedication to every real estate experience.

Having called Arizona home for decades—both in the valley and up north—I've seen firsthand how our market ebbs and flows. Right now, we're witnessing a shift: buyers are finally getting some real negotiating power. Builders are rolling out incentives, mortgage-rate buydowns, and price adjustments to bring more folks to the table. And with a wider selection of homes available, buyers have room to carefully compare properties instead of having to make snap decisions. Elevated mortgage rates are still making many cautious, but it’s encouraging to see more opportunities for those looking to purchase. For me, it’s always about making the experience as smooth as possible for my clients—and these market changes mean you have more flexibility and control than we've seen in years.