Pending activity tells me what is being absorbed right now.
If you want a better read on demand in Tempe, AZ, I would look at pending homes next. Last month, there were 124 new pending listings, and that is a strong signal of what the market is still taking in.
There were 124 new pending listings last month, and the typical pending price was $499,945. I read that as a market where homes still move when the price is believable.
For a buyer, I would watch pending activity to understand which price points are getting accepted fastest. For a seller, I would use that pending level to judge whether my asking price is in the right lane.
Track homes that go pending at or near your target price. Compare them to the homes that stay active longer. Let that difference guide your timing and your offer or pricing strategy.
