The housing markets in Buckeye remain firmly in buyers’ territory, with supply far outpacing demand, according to the Cromford Market Index, a widely watched measure of market balance in metro Phoenix.
Mike Orr, founder of the Cromford Report, said the index, based on Arizona Regional Multiple Listing Service data, tracks housing supply and demand. Orr developed a formula to help the real estate industry identify areas in demand and those that are saturated with listings. His most recent data shows Buckeye with a score of 49, indicating roughly twice as many sellers as buyers.
“Anything below 90 is a buyers’ market,” Orr said in an interview with InBuckeye. “If it’s around 50, it means there’s twice as many sellers as buyers. So if you’re selling, you’ve got a lot of competition. If you’re buying, you’ve got plenty of negotiating power.”
The index, published daily for more than 20 years, compares current supply and demand with historical averages. A score of 100 represents a balanced market.
Orr said Buckeye’s score reflects an ongoing surge in homebuilding coupled with relatively weak demand, a trend that has persisted since mortgage interest rates rose above 6% in 2022.
“These areas have a lot of new construction,” Orr said. “There’s no shortage of homes to choose from.”
Local realtor Dayv Morgan echoes this data.
“It’s definitely not a seller’s market,” said Morgan. “Inventory levels are very high, giving buyers alot of power to negotiate on price and repairs. Buyers are expecting sellers to pay concessions, and resale homeowners are competing against new home builders offering interest rates of 4-5% range.”
“2023 and 2024 were a balanced market, but 2025 has gradually moved towards a buyers market,” said Morgan.
While homeowners might wonder how to boost local demand or limit supply, Orr said market conditions are largely driven by individual decisions rather than city policies.
“It’s not something governments can just adjust,” he said.
Metro Phoenix markets closer to the urban center, such as Tempe or Paradise Valley, show stronger demand because of limited land for new builds, Orr said. However, even those markets have softened compared to the pandemic-era boom of 2020-2022.
The current slowdown, Orr noted, is different from the mid-2000s housing crisis, when risky lending practices fueled unsustainable speculation. “Lenders are much stricter now,” he said. “Delinquency rates are very low.”
Orr said market demand could rebound if mortgage rates decline. In the meantime, buyers in Buckeye are in a favorable position to negotiate on price and closing costs.
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One Response
Several vacant, available warehouse spaces to lease. The Check is the current financial environment. The Balance would be to slow down development, City of Buckeye, and allow demand to catch up. Most importantly we have water availability issues. Seems that more often than not, The City is choosing quantity over quality.