Heart of PHX, Vol. 8, Issue 45

Friday, November 6, 2026  |  Volume 8, Issue 45

From my house

This week we had a hot dog party to celebrate our new cool decking and solar heated pool, played Bingo, and did lots of walking after I volunteered to deliver community newsletters. Pro tip: DON'T deliver newsletters in plastic flip-flops unless you want blisters in places you didn't know your feet had!

I'm starting a walking club in my community tomorrow (I might be walking in my sheepskin slippers), and I joined a garden club with the first meeting tomorrow too. There was some fun family drama, and I'm looking forward to teaching my community a new card game I learned on a riverboat in Russia: BS (also known as I Doubt It, or Baloney).

This weekend in the Valley

• Kierland Fine Art & Wine Festival, Sat 11/7 and Sun 11/8, 10 am to 5 pm, Kierland Commons, Scottsdale. More than 100 artists, wine tastings, and live music. Details
• Water Lantern Festival, Fri 11/6 to Sun 11/8, gates at 3 pm and launch at sunset, Kiwanis Park, Tempe. Lanterns float on Kiwanis Lake. Details
• 11th Annual Italian Festival, Sat 11/7 and Sun 11/8, Scottsdale Civic Center. Italian wines, food, and entertainment. Details
• Phoenix Veterans Day Parade, Wed 11/11, 11 am, 3rd Street from McDowell to Indian School, Phoenix. The 30th annual parade, on a new route. Details

See all Valley events

The Valley by the numbers

Maricopa County single family homes, October 7 to November 6, 2026, compared with the same dates in 2025 (ARMLS Flexmls, pulled Nov 6):

Fewer homes sold while more were available. AZ Big Media's November 5 report also put the Cromford Market Index at 70.1 for October, and anything below 100 is a buyer's market.

What this means for you.

Buyers: With more homes on the market and fewer sales, you have room to ask for price cuts, repairs, and closing-cost help.

Sellers: Prices are slipping a little, so price it right from day one and make sure every agent can see it on the MLS.

Small investors: Fewer buyers means room to negotiate on the right property, but run the numbers at today's rates.

Friday mortgage talk

Mortgage rates fell for a third straight week. Freddie Mac's weekly survey put the 30-year fixed at 7.18% on November 5, down from 7.24% last week and above 6.22% a year ago. The 15-year averaged 6.57%. Mortgage News Daily's index was 7.17% the same day.

Michael Chalker's Daily Temp on November 6 had national averages of 7.115% for a 30-year conforming loan (down 0.059 from the day before), 6.897% for FHA (down 0.089), 6.758% for VA (down 0.050), 7.036% for USDA (down 0.094), and 6.571% for a 15-year conforming loan (up 0.078). Jumbo rose 0.221 to 7.422%. Those are national averages, not anyone's quote.

The Fed held its rate at 3.75% to 4% on October 28, but two members voted to raise it, and CME FedWatch shows about an 82.6% chance of a hike on December 9 (Fox Business, Oct 28). Today's jobs report could move rates again, so if a payment works for you now, let's talk about locking before you count on a better one.

From Lizy Hoeffer, CrossCreek Mortgage: Wednesday's midterm elections gave the mortgage market a boost. First, the results raised hopes that tensions with Iran could ease, and lower oil prices can mean less inflation and lower rates. Second, the election raised concerns about future AI data centers, which put pressure on tech stocks, and investors who get nervous about stocks sometimes move money into government bonds, which can help bring mortgage rates down.

She'd love to see the 10-year Treasury drop below 4.8%. Her bottom line: we need inflation to cool, oil prices to settle, and the job market to slow a little without crashing. Rates don't fall in a straight line. Think of it like walking down stairs: a few steps down, a pause, maybe a step back up.

Plenty of people still want to buy, but higher rates have made it harder. Arizona has more homes for sale than we've seen in years, so sellers are often more willing to negotiate. Many buyers are waiting for better rates.

Do you own a home? What's it worth today?

Get a free monthly snapshot of what your home might be worth. It's an algorithmic estimate, not an appraisal, and I can refine it with a CMA when you want a closer look.

See my home value

What I'm up to at work

I learned a lot about appraisals this week and used it to update my appraisal support package for my Sellers. I also did some work on my website and automation, and I did a final walkthrough with a contractor after a client's rental unit had a fire. Pro tip from that one: don't leave your bathroom exhaust fan on all the time. Sometimes it turns out badly.

Shoutout: spring cleaning in November

This is a great weekend to get rid of some stuff in your house. Phoenix and Peoria are both hosting recycling and shred events on Saturday, November 7.

Peoria Recycles Day, 8 a.m. to noon, Peoria Sports Complex, 16101 N. 83rd Ave. Bring household electronics, appliances, lithium batteries, and sensitive documents. Accepted appliances are refrigerators, stoves, microwaves, dishwashers, water heaters and coolers, and small window air conditioning units. Accepted electronics include computers, keyboards, laptops, scanners, fax machines, cellphones, and gaming systems. For shredding, bring up to three sturdy boxes per household, 12 by 17 by 11.5 inches, with paper clips and staples removed. Proof of residency is required, and televisions are not accepted. Questions: 623-773-7836 or peoriaaz.gov/recycle.

I Recycle Phoenix, 7 to 11:30 a.m., American Family Fields (enter the parking lot at N. 51st Ave. and Whitton Ave.). It's a free drive-thru for Maricopa County residents, and the page advises arriving by about 11 a.m. Accepted items include electronics (laptops, computer towers, printers, cellphones, flat-screen TVs, and monitors), gently used bicycles, small working appliances, furniture, books, and soft plastic bags. Document shredding takes up to five banker boxes. No batteries, large appliances, hazardous waste, or CRT TVs. Details: keepphxbeautiful.org/i-recycle-phoenix (Keep Phoenix Beautiful, read Nov 6).

Lithium batteries from phones, tablets, power tools, and cordless vacuums can start fires in garbage trucks and recycling facilities. Take them to Peoria Recycles Day, or use Peoria's Household Hazardous Waste home pickup program.

ADOT weekend freeway travel advisory, Nov. 6 to 9

• Eastbound Loop 101 (Agua Fria Freeway) closed between 51st and 27th avenues from 10 p.m. Friday to 5 a.m. Monday (Nov. 9) for widening project. Eastbound Loop 101 on-ramps from 75th to 59th avenues closed. Detour: Consider using eastbound Union Hills to connect with eastbound Loop 101 or I-17.
• Southbound SR 51 closed between Cactus Road and Northern Avenue from 9 p.m. Friday to 5 a.m. Monday (Nov. 9) for pavement improvement project. Southbound SR 51 on-ramps from Bell Road to 26th Street closed. Detour: Consider using southbound 7th Street from Cactus Road to Northern Avenue.
• Eastbound I-10 (Papago Freeway) closed between Verrado Way and Citrus Road from 9 p.m. Friday to 5 a.m. Monday (Nov. 9) for widening project. Eastbound I-10 on-ramps from Miller Road to Perryville Road closed. Detour: Consider using eastbound Yuma or McDowell roads to access eastbound I-10 at Citrus Road.
• Westbound Loop 202 (Santan Freeway) closed between Gilbert Road and Arizona Avenue from 10 p.m. Friday to 5 a.m. Monday (Nov. 9) for widening project. Westbound on-ramps between San Tan Village Parkway and McQueen Roads closed. Detour: Consider using westbound Pecos or Germann roads to access westbound Loop 202 at Arizona Avenue or Alma School Road.
• Eastbound Loop 303 closed between 43rd Avenue and I-17 from 10 p.m. Friday to 5 a.m. Monday (Nov. 9) for bridge project. Westbound Loop 303 restricted to one lane between I-17 and 43rd Avenue. Detour: Consider using northbound 43rd Avenue to eastbound Dove Valley Road to connect to I-17.
• US 60 eastbound and westbound (Grand Avenue) closed between 27th Avenue and Thomas Road from 9 p.m. Friday to 5 a.m. Monday (Nov. 9) for bridge work. Detour: Consider using Encanto Boulevard or Thomas Road for east and west travel and 27th or 23rd avenues for north and south travel.

Restriction schedules are subject to change due to inclement weather or other factors. Real-time conditions: AZ511.gov, the az511 app, or call 511.

Full ADOT advisory

This week's real estate headlines

Arizona and around the Valley

• The Central Arizona Project asked to join the Colorado River lawsuit. Arizona's water agency moved to join Nevada's suit, and CAP followed. The federal plan allows cuts of up to 40% a year, and the federal government asked for until December 10 to respond. (KJZZ, Nov 2) Read more
• Power is becoming a bottleneck for Valley construction. Switchgear takes 52 to 80 weeks to arrive, and a state task force warned data centers could need up to about 29,000 megawatts of new capacity. (AZ Big Media, Nov 6) Read more
• Honeywell plans a $500 million aerospace expansion in Tempe. The 300,000 sq ft plant would bring about 600 permanent jobs, with a late 2028 opening. (AZBEX, Oct 31) Read more
• Mattamy Homes bought 59 finished homesites in Glendale for $10.6 million. (AZ Big Media, Nov 5) Read more
• Maricopa County declared an emergency for storm and flood impacts in unincorporated areas. (Maricopa County, Nov 2) Read more

National

• Mortgage rates fell for a third week to 7.18%. (Freddie Mac, Nov 5)
• The Fed held rates on October 28 on a 10-2 vote, with two members wanting a hike. (Fox Business, Oct 28)
• Phoenix home prices rose just 0.42% in August from a year earlier, while the national figure was up 2.1%. (S&P Cotality Case-Shiller, Oct 27)
• Fannie Mae and Freddie Mac accept VantageScore 4.0 as an alternative to FICO, but lenders will take time to adopt it. (Real Estate News, Oct 30)

Let's talk

Call or text me at 480.818.9391. My virtual assistant and office manager, Ruby, is at 623-255-4485. Email Hello@DeDeForwood.com, or visit dedeforwood.com and heartofphx.com.

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See you next Friday,
DeDe

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