🔽Mortgage Rates Slip, Sellers Return — What This Means for You

Fresh Listings Climb - As Seasonally Expected?

The first week of September has brought a notable uptick in new listings—around 2,200 per week, a level not seen since May. Although it is typical to see more new listings in September, it is less typical to see them coming at this pace.

Could This Reverse the Supply Index Dip?

If this pace of 2,200 new listings per week holds, it may be sufficient to reverse the downward trend seen over the past couple of months. That said, it remains lower than Spring 2025, when 2,600–2,800 weekly listings were routine. But a BIG "however"...

Interest Rates Are Driving Both Sides of the Market

Lower mortgage rates (down below 6.3%!) seem to be restarting activity from both sellers and buyers. Often, these are move-up buyers selling and purchasing in the same market cycle.

But it's not just demand that's responding. Lower interest rates frequently boost supply, encouraging sellers to list. The critical question now is: Will the increased supply outpace the increase in demand—or vice versa? I'll be watching closely as this will directly impact either the continued weakening of the buyer's market, or it may put some wind back in buyer's sails. That said, there's still plenty of wind. I just closed a deal for a buyer where they did not pay a dime in closing costs and got a new AC unit to boot.

If you're curious about the current state of the market, don't hesitate to reach out by scheduling a quick call with me or contact me here.

What is Rent doing these days?

You may have various reasons for wanting to know. For me, I care because I hold long term rental investments. Below is a chart for average rental rate per sq ft for a single family home in Scottsdale. Last year the talk was that rent was down (which it was - see the bottom out in 2024). Based on what I am seeing here, this trend may be reversing, which will be a welcome relief for long term hold rental property owners, and less of a relief for the renters.

To see these metrics for other areas of town, schedule a quick call with me or contact me here.