Home prices hit an all time high?! | Phoenix Real Estate Market Update

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US home prices just hit an all-time high — so why doesn't the market FEEL like it's booming? In this week's Phoenix market update, I'm breaking down what the national headlines are actually telling us (and what they're leaving out), plus everything happening right here in the Valley.

Here's what we cover:

Record home prices — the full context: Prices rose 2.2% year over year, but growth has cooled to below wage growth (3.5%) and inflation (3%). Why that's actually a healthy sign for affordability.

Phoenix market breakdown (Cromford Report): Active listings are DOWN year over year, listing success rates are up, and sellers are seeing stronger list-to-sale price ratios — even in the summer slowdown.

The new housing bill: Why what was LEFT OUT of this legislation may matter more than what made it in — and what it means (or doesn't) for institutional investors and housing supply.

Mortgage rates: Rates just fell to their lowest level in a week (6.64%) after softer CPI and PPI inflation reports. Here's where things stand.