When the ASU data comes out next week, we’ll likely see that the median home prices in August in Surprise and El Mirage were lower than a year earlier. That should get some ink.

On Friday, the new MLS data will come out. The big question for me is whether the number of new listings for sale will continue to level off. If the flow of homes hitting the market is indeed slowing, it sets the stage for inventory to fall January-July when sales increase seasonally.