List prices post sharpest drop in 9 years | Phoenix Real Estate Market Update

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Listing prices just posted their sharpest decline in at least 9 years — so are sellers finally facing a reality check? In this week's Phoenix real estate market update, I'm breaking down what's happening with list prices nationally vs. what the data actually shows here in the Phoenix metro area.
We'll also cover:
Why sellers are pulling homes off the market at near-record rates (and what cancelled listings look like in Phoenix)
Dave Ramsey's claim that this is "the most unrealistic real estate market in 100 years" — and what the affordability numbers really say
Opendoor is back in Phoenix — what their buying spree tells us about the market
Where mortgage rates stand this week (6.67%)
The latest Cromford Market Index — Phoenix metro is technically a buyer's market, but cities like Chandler, Scottsdale, Gilbert, and Mesa are still favoring sellers