Inventory Slide Shakes Up The Valley Housing Mood

Listings in Greater Phoenix keep slipping. Fast. You can feel the shift the moment you look at the weekly counts. Sellers are pulling back. Buyers are stepping in. The whole thing tilts in real time, right as the holiday slowdown settles over “The Valley.” It’s a quirky moment. Short. Sharp. Telling.

Quick Points

• Inventory dipped harder than seasonal norms.

• New listings cooled after months of strength.

• Cancellations jumped across the region.

• Supply readings pushed the CSI downward.

Also Read: NAR Housing Picture For 2026 Hints At A Stronger Market Pulse

Sellers Hit The Brakes

You see the change in the numbers. Active listings without a contract fell again, dropping roughly 2.3% in a single week. That’s deeper than the usual seasonal fade. The year had been running with healthier new-listing activity, so this reversal stands out. Only 1,653 new listings arrived, which came in softer than last year. That’s a pivot. Then the pullbacks hit hard. Cancellations climbed. Expirations added to the drain.

• 1,653 new listings posted.

• 7% fewer than last year’s week.

• 622 cancellations logged.

• 146 expirations recorded.

• Inventory slid 2.3%.

Sellers seem to be stepping aside for now. Many pull listings off until the holidays pass. That trims the options for buyers. It also tightens the entire market structure.

Closings Push The Market Forward

Activity didn’t fall off everywhere. Closings stayed steady with 1,559 recorded in seven days. Pair that with the flood of cancellations & expirations, and you get a rough weekly success rate of about 50.7%. It’s a blunt reminder that half the market churned while the other half backed away. That kind of split changes how fast remaining homes move. It also shapes how buyers behave as choices shrink.

• 1,559 closings registered.

• About 50.7% turned into successful results.

• Fewer active listings left on the table.

Lower supply tightens the race for what’s left. Even a small boost in demand can push momentum faster than expected.

Also Read: Scottsdale Outsells The Entire Phoenix RE Market For First Time

Supply Squeezes While Demand Nudges Up

The Cromford® Supply Index flipped downward as inventory thinned out. Demand isn’t roaring, but it’s edging up. That combination can tilt pricing pressure. It also conditions the next phase of the market. If these trends keep running, the Cromford® Market Index should lift above 80 within roughly five weeks. That would signal a cleaner path for sellers who stay live through the season.

• CSI moved down.

• Demand crept higher.

• CMI projected to rise above 80.

• Sellers staying active could gain ground.

The setup creates space for quicker movement. Slimmer supply often does that. It gives the active listings a little lift.

What This Means For The Valley’s Winter Stretch

This stretch of the calendar usually slows. This one bends harder. And quicker. You get fewer new listings, more removals, & an unexpected mid-season shift that tightens the whole market in “The Valley.” Buyers still move, so the remaining homes stay in play. Sellers weighing a holiday pause might miss this window. Those who hang in could catch a bit more leverage as January approaches.

• Sellers stepped back.

• Buyers kept pacing.

• Inventory thinned fast.

The market isn’t loud right now. But it’s moving. And the direction favors the folks who stay on the field.

Also Read: Arizona Housing Market & Construction Trends For The Year 2025