Phoenix Market Update: What the Fed's October 2026 Decision Means for Buyers and Sellers

Happy Wednesday, neighbors. Today the Federal Reserve wrapped up its October meeting and announced it is holding the federal funds rate at 3.75% to 4.00%, pausing as it weighs persistent inflation and energy prices. If you have been waiting to see where mortgage rates and home prices are headed before making your move, this is the most relevant news of the week, and I want to walk you through what it means for buyers and sellers in the Phoenix metro. That is what it means to be Your Realtor for Life.

What the Fed's Decision Means for Mortgage Rates

The Fed does not set mortgage rates directly, but its decisions shape the bond market that drives them, so home buyers feel the ripples. The good news heading into this meeting: the 30-year fixed rate was already easing. Freddie Mac's weekly survey put the average at 7.32% for the week ending October 22, down from 7.40% the week before.

What should you do with that? Do not obsess over catching the perfect rate. If you are ready to buy, today's rate is one piece of a bigger picture that includes purchase price, closing costs, and monthly payment. And remember, in Arizona you do not need 20% down: FHA, VA, and USDA loans plus down payment assistance can put you in a home with very little out of pocket. I have helped buyers get started with as little as $1,500 down, and I love walking first-time buyers through the options one by one.

The Freshest Market Numbers

The newest Greater Phoenix figures come from the October 2026 STAT report, which covers September data. Here is where the Valley stands:

• Median sales price: $450,000 for Greater Phoenix, flat year over year and up about 1.1% from August.
• Active listings: about 25,250 homes, up from roughly 23,400 in August, giving buyers more choices than in years.
• Months of supply: about 4.45 metro-wide, solidly in balanced territory with a lean toward buyers.
• Median days on market: about 62 days for the Phoenix-Mesa-Scottsdale metro, so well-priced homes are still finding buyers within about two months.
• Mortgage rates: 7.32% for the 30-year fixed in Freddie Mac's October 22 survey.

What does this mean for you? If you are buying, this is a generous market: more inventory, more time to tour, and more room to negotiate. If you are selling, homes that are priced right, staged well, and marketed hard are still selling in about two months, and balanced conditions reward prepared sellers. I am happy to share what your home could realistically sell for, no pressure attached.

Fall Farmers Markets Across the East and West Valley

One of the best parts of our cooler fall mornings is getting out into the community, and the Valley's weekly farmers markets are in their prime season. Here is where I love to send clients and friends:

East Valley

• Gilbert Farmers Market: Saturdays, 8 a.m. to noon, in the Gilbert Heritage District at 222 N. Ash St., next to the water tower.
• Downtown Chandler Farmers Market: Saturdays in downtown Chandler near Dr. A.J. Chandler Park.
• ASU Farmers Market: Mondays, 9 a.m. to 2 p.m. during the fall season at 300 E. Orange Mall in Tempe.

West Valley

• Arrowhead Farmers Market: Saturdays in Glendale at Dream City Church, 21000 N. 75th Ave., 9 a.m. to 1 p.m.
• Waddell Farmers Market: Sundays, 9 a.m. to 1 p.m., at American Leadership Academy, 17608 W. Olive Ave.
• Surprise Farmers Market: Saturdays, 8 a.m. to noon, at Ottawa University Arizona, 15950 N. Civic Center Plaza.
• A Community Affair Farmers Market: Saturdays in Litchfield Square Park at 279 N. La Loma Ave., Litchfield Park.
• Verrado Farmers Market: Sundays, 9:30 a.m. to 1 p.m., at Verrado Town Square in Buckeye.
• Sun City Festival Farmers Market: every other Wednesday at Saguaro Recreation Center, 26285 W. Morrow Dr., Buckeye.

Bring the family and say hi if you see me out there. Between the markets and the packed events ahead, including the Veterans Day parades and the first holiday lights in late November, my November events calendar has everything verified in one place.

Whether you are buying your first home, moving up, considering new construction, or thinking about selling, this balanced market is a genuinely good time to start the conversation. And one gentle reminder: if you are looking at new builds, contact me before you visit a builder on your own, so I can help you get the best deal possible. I am always available to answer your questions and I want to share my knowledge in buying or selling a home with you. Call or text me at (623) 640-8840 or reach out online. I am here for you, before, during, and after your home purchase or home sale. Have a wonderful week, and talk to you soon!