PMGR Market Reports for May 2025
“The median sale price increased to $450,995, likewise to the average sale price rising 1.32% with total inventory growth of 0.64%. Meanwhile, new lisitngs decreased 7.79%, yet total inventory grew 5.14%.”
- Source: ARMLS Reports – Stats
Current mortgage interest rates (as of 6/5/2025)
- 30 year fixed – 6.85%
- 15 year fixed – 5.99%
- Jumbo 30 year – 6.24%
Conforming loan limit is $806,500.
Click here for the May data reports.
PMGR Market Report for April 2025
“The median sale price reduced to $445,00, as well as the average sale price declined by 5.57% with an overall decrease of 2.32% from the previous year. The number of new listings fell by 1.38%, yet total inventory grew by 17.70%.”
- Source: ARMLS Reports – Stats
Current mortgage interest rates (as of 5/6/2025)
- 30 year fixed – 6.76%
- 15 year fixed -5.89%
- Jumbo 30 year- 6.90%
Conforming loan limits is $806,500.
Click here for the April data reports.
PMGR Market Report for March 2025
“The median sale price remained the same at $455,000, while the average sale price increased by 1.65% with a total inventory growth of 8.78%. Meanwhile, new listings grew by 9.86% with total inventory growth of 16.96%.”
- Source: ARMLS Reports – Stats
Current mortage interest rates (as of 4/3/2025)
- 30 year fixed – 6.64%
- 15 year fixed- 5.82%
- Jumbo 30 year – 6.77%
Conforming loan limits is $806,500.
Click here for March data reports.
PMGR Market Report for February 2025
“The median sale price increased to $455,000, while new lisitngs decreased by 6.81%. However, total inventory of new listings rose 16.08%. Whereas, the average sale price declined .20% with total inventory growth of 7.86%.”
- Source: ARMLS Reports – Stats
Current mortage interest rates (as of 3/6/2025)
- 30 year fixed – 6.63%
- 15 year fixed – 5.79%
- Jumbo 30 year – 6.93%
Conforming loan limits is $806,500.
Click here for February data reports.
PMGR Market Reports for January 2025
“The median sale price stayed at $450,000, while new listings made a major incline by 104.61% with total inventory also rising by 16.08%. Meanwhile, the average sale price increased 2.44% and total inventory made a growth of 10.37%.”
- Source: ARMLS Reports – Stats
Current mortgage interest rates (as of 2/6/2025)
- 30 year fixed – 6.89%
- 15 year fixed – 6.09%
- Jumbo 30 year – 7.14%
Conforming loan limit is $806,500.
Click here for the January data reports.
PMGR Market Reports for December 2024
“The median sale price rose to $450,000, while new listings dropped by 28.81%. Despite the decline in listings, total inventory grew by 9.04%. Meanwhile, the average sale price increased by 5.26% to $601,785, with total inventory also rising 8.29%.”
- Source: ARMLS Reports – Stats
Current mortgage interest rates (as of 1/9/2025)
- 30 year fixed – 6.93%
- 15 year fixed – 6.14%
- Jumbo 30 year – 7.37%
Conforming loan limits increased from $802,650 to $806,500.
Click here for the December data reports.
PMGR Market reports for November 2024
“The median sale price rose to $449,990, while new listings dropped by 18.76% to 7,623. Despite this decline, total inventory grew by 7.55%. Meanwhile, the average sale price edged up 0.48% to $570,946, accompanied by a 1.28% increase in total inventory.”
- Source: ARMLS Reports – Stats
Current mortgage interest rates (as of 12/05/2024)
- 30 year fixed – 6.69%
- 15 year fixed – 5.96%
- Jumbo 30 year – 6.60%
Conforming loan limits increased from $802,650 to $806,500.
Click here for the November data reports.
PMGR Market Report for October 2024
“The median sale price increased to $448,000. New listings inclined by 8.91% and the total inventory rose by 16.81%. The average sale price decreased 0.38% with a total inventory growth of 1.20%.”
- Source: ARMLS Reports – Stats
Current Mortgage interest rates (as of 11/21/2024)
- 30 year fixed – 6.875%
- 15 year fixed – 6.125%
- Jumbo 30 year – 7.00%
Conforming loan limits increased from $766,500 to $802,650.
Click here for the October data reports.
PMGR Market Report for September 2024
“The median sale price is consistant at $440,000. New listings increased 1.42% from last month, and rose 12.02% in total inventory. The average sale price decreased by 1.81% with a total inventory growth of 2.36%. ”
- Source: ARMLS Reports – Stats
Current Mortgage interest rates (as of 10/10/2024)
- 30 year fixed – 6.32%
- 15 year fixed – 5.41%
- Jumbo 30 year – 6.84%
Conforming loan limits increased from $726,000 to $766,500.
Click here to view the September data reports.
PMGR Market Report for August 2024
“The median sale price remained the same at $440,000. New listings increased by 15.67% with a total inventory incline of 11.58%. The average sale price rose by 1.68% to $570,728 and the total inventory increased 3.53%.”
- Source: ARMLS Reports – Stats
Current Mortgage interest rates (as of 9/5/2024):
- 30 year fixed – 6.35%
- 15 year fixed – 5.47%
- Jumbo 30 year – 6.93%
Conforming loan limits increased from $726,00 to $766,500
PMGR Market Report for July 2024
‘New Listings declined 7.58% from last month but total inventory increased by 10.31%. The average sales price decreased to 560,906, at a drop of -4.51% with a 1.40% incline of total inventory. The median sales price stayed the same at $440,000. ‘
- Source: ARMLS Reports – Stats
Current Mortgage Interest Rates (as of 8/29/2024):
- 30 year fixed – 5.870%
- 15 year fixed – 6.125%
- Jumbo 30 year – 6.250%
Conforming loan limits increased from $726,000 to $766,500
Click here to view the July data and charts.
PMGR Market Report for February 2024
“The median sales price rose $10,000, from $430,000 to $440,000. New listings declined 7.74% but total inventory rose 10.40%. The Average sales price declined 7.74% but the total inventory rose 10.40%. The average sales price reported in at $571,641, an increase of 10.21%.”
- Tom Ruff, ARMLS Report
Current Mortgage Interest Rates (as of 3/19/2024)
- 30 year fixed – 6.750%
- 15 year fixed – 5.750%
- Jumbo 30 year – 6.750%
Conforming loan limits increased from $726,200 to $766,500
Click here to view the February data and charts.
PMGR Market Report for January
Source: ARMLS® COPYRIGHT 2024
“Textbooks throughout American Universities all define an absorption rate of 20% as being indicative of a balanced market. I believe, through observation, an absorption rate of 25% is a better metric for defining a balanced market within our marketplace. I would define 20% as a buyer’s market. As reported on February 6th our current absorption rate is 28.86%, a market that slightly favors sellers.”
- Tom Ruff, ARMLS Report
Current Mortgage Interest Rates (as of 2/23 2024):
- 30 year fixed – 6.625%
- 15 year fixed – 6.000%
- Jumbo 30 year – 6.750%
Conforming loan limits increased from $726,200 to $766,500
Click here to view the January data and charts.
PMGR Market Report for December
Source: ARMLS® COPYRIGHT 2023
Summary of Key Points:
“In 2005 there were 1,974,575 documents recorded in Maricopa County, in 2021 there were 1,387,670 documents recorded and in 2023 there were only 662,637. The number of documents recorded in Maricopa County this past year was 52.25% lower than 2021 and 66.44% lower than 2005’s record total” — Tom Ruff, ARMLS Report
- Sales are up +6.8% month-over-month. The year-over-year comparison is down -3.3%.
- New inventory has a month-over-month decrease of -26.5% while the year-over-year comparison increased buy +4.4%.
- Total inventory has a month-over-month decrease of -4.9% while year-over-year reflects a decrease of -10.2%.
- December UCB listings percent of total inventory was 9.7% with December CCBS listings at 1.6% of total inventory.
- Month’s supply of inventory for November was 3.97 with December at 3.54.
- Average new list prices are up +6.6% year-over-year median list prices went up +4.4%. The average sales price is up +8.7% year-over-year while the year-over-year median sales prices is up +4.4%.
- Foreclosures pending month-over-month showed a decrease of -0.4% while the year-over-year figure was down -4.5%.
- Distressed sales accounted for 0.3% of total sales, up from the previous month of 0.2%. Short Sales were up +300.0% compared to last year. Lender-owned sales had a -15.4 decrease year-over-year.
- Current Mortgage interest rates (as of 1/18/24)
- 30 year fixed: 6.5%
- 15 year fixed: 5.875%
- Jumbo 30 year: 6.5%
- Conforming loan limits increased from $726,200 to $766,500
Click here to view the December data and charts.
PMGR Market Report for November
Source: ARMLS® COPYRIGHT 2023
Summary of Key Points:
In 2023, Millennials made up only 28% of home buyers despite being of home-buying age. That’s just over half as much as it was 2022 before rates took off. And at just 4%, Gen Zers made up the tiniest fraction of homebuyers.
Tom Ruff, ARMLS Report
- Sales are down -10.2% month-over-month. The year-over-year comparison is down -5.1%.
- Total inventory has a month-over-month decrease of -0.2% while year-over-year reflects a decrease of -14.9%.
- The average sales price is up +7.4% year-over-year while the median sales price is up +4.7%.
- Current Mortgage interest rates (as of 12/19/23)
- 30 year fixed: 7.26%
- 15 year fixed: 6.35%
- Jumbo 30 year: 7.26%
Click here to view the November data and charts
PMGR Market Report for October
Source: ARMLS® COPYRIGHT 2023
Summary of Key Points:
- Sales volume was down 5.4% year over year and 7.3% month over month.
- The inventory of homes for sale is down 21.3% year over year but has risen 14.2% from last month.
- Rental inventory, as reported by ARMLS, is up 28.23% year over year.
- Rental rates on the MLS are flat year over year.
- The median sales price was down 0.2% year over year.
- Supply and demand are well below what would best be defined as typical.
- Maricopa County saw 7,948 eviction filings, setting a new record. The previous monthly record was 7,902, set in September 2005.
Click here to view the October data and charts
PMGR Market Report for September
Source: ARMLS® COPYRIGHT 2023
Summary of Key Points:
“As our market trudges through rising mortgage rates and scare housing supply, September, as well as third quarter closing numbers, report more of the same dismal: transaction volume. The balance between supply and demand still favors sellers,” Tom Ruff, ARMLS Report
- Sales are down -11% month-over-month. The year-over-year comparison is down -14.3%.
- Total inventory has a month-over-month increases of +7.9% while year-over-year reflects a decrease of -30.5%.
- The average sales price is up +3.9% year-over-year while the year -over-year median sales price is down -1.8%.
Click here to view the September data and charts
PMGR Market Report for August
Source: ARMLS® COPYRIGHT 2023
“According to data from a recent Realtor.com study, 82% of homeowners feel “locked-in” by their existing low-rate mortgage. In August, LendingTree reported 83.6 million mortgages in the U.S. using the numbers from these studies and simple math, 68.55 million Americans are “locked-in.”
Summary of Key Points:
- Sales are up +5.5% month-over-month. The year-over-year comparison is down -0.7%.
- Total inventory has a month-over-month increase of +2.9% while year-over-year reflects a decrease of -33.3%.
- The average sales price is up +0.4% year-over-year while the year-over-year median sales price is down -2.2%.
- Mortgage Interest Rates as of 9/21/2023
- 30 year fixed – 7.77@ (no points)
- 15 year fixed — 6.91% (no points)
- Jumbo 30 year — 7.56% (no points)
Click here to view the August data and charts