Happy Tuesday, friends!

Arizona just keeps finding ways to push the limits of what’s possible. From exploring flying cars to breaking ground on major medical and entertainment projects, there’s plenty happening across the Valley this week. Add in a national market that’s cooling faster than expected, and there’s no shortage of storylines shaping both our skyline and our housing market.

The Recap

This week brings a mix of futuristic innovation and local expansion. Arizona is putting real dollars behind flying car research, Chandler is breaking ground on another major medical office project, and the Arizona Cardinals just announced their new $200 million headquarters in north Phoenix.

Over in the West Valley, Dollar Tree purchased a massive warehouse in Glendale for a new distribution hub, and Goodyear is getting another family-friendly attraction with the arrival of Slick City Action Park. Meanwhile, the Halo Vista development near TSMC continues to grow now adding a Costco, two Marriott hotels, and more retail and restaurant space.
_{Click here for live mortgage rates 
Rates vary based on credit score, loan type, and lender policies. For the most accurate estimate, consult with a lender.}

News & Developments

🚗 Arizona Invests $2 Million into Flying Car Research
Arizona is investing $2 million in research and infrastructure planning for the emerging flying car industry. The state plans to study vertiports — facilities for vertical takeoff and landing — and how to integrate them safely into urban and rural areas. Lawmakers hope the move will position Arizona as a national leader in advanced air mobility, with potential applications in emergency response, tourism, and even personal transport.
📍 Statewide
🔗 Read More

🏥 Chandler Regional Medical Center Expands Again
Construction is about to begin on a 100,000-square-foot medical office building at Chandler Regional, part of Dignity Health. The new facility will include an ambulatory surgery center, imaging, and rehabilitation services. Once complete in 2026, it will replace the Morrison building on-site, which is slated for demolition. This project continues Chandler’s steady rise as one of the Valley’s top healthcare hubs.
📍 Chandler
🔗 Read More

🏈 Arizona Cardinals Unveil $200M North Phoenix Training Facility
The Cardinals are planning a 250,000-square-foot training complex and headquarters on 217 acres at Loop 101 and Scottsdale Road. The $200 million project includes three outdoor fields, an indoor turf facility, and extensive training and sports medicine areas. Beyond football, the remaining 187 acres will be developed into corporate offices, retail, medical, and residential uses. Groundbreaking is expected in 2026, with completion before the 2028 NFL season.
📍 North Phoenix
🔗 Read More

🏙️ Halo Vista Near TSMC Adds Costco and Two Marriott Hotels
The Halo Vista development in north Phoenix — a 2,300-acre community next to TSMC — just landed major tenants. Costco has signed on for a new store, while Marriott will add a Courtyard and a Residence Inn developed by Phoenix-based Common Bond. At full buildout, Halo Vista could span 30 million square feet of mixed-use space and up to 9,000 homes, serving as a full-service city within a city.
📍 North Phoenix
🔗 Read More

📦 Dollar Tree Buys Massive Glendale Distribution Center
Dollar Tree just purchased a 1.25 million-square-foot warehouse at Park303 in Glendale for $147 million. The facility will serve as the company’s new regional distribution center — its first in metro Phoenix. The move highlights growing interest from large retailers looking to own their logistics spaces amid Arizona’s continued industrial boom.
📍 Glendale
🔗 Read More

🎢 Slick City Action Park Opens in Goodyear
Goodyear’s newest family attraction, Slick City Action Park, opens this month. The 45,000-square-foot indoor park features dry slides, a sport air court, and a glow-in-the-dark mural by local artist Jody Barrilleaux. The opening is part of a $12 million statewide expansion of the brand, which will bring six total locations to Arizona.
📍 Goodyear
🔗 Read More

Real Estate Trends

Local Market Snapshot
As of October 1, active listings in Greater Phoenix hit 24,450, up 25% year-over-year and 5.2% month-over-month. Sales volume rose 12% year-over-year, and the median sales price climbed to $454,000, up 2.7% from last year. Luxury listings made a strong comeback in September, with six homes selling over $10 million — a rare surge that helped boost average price per square foot to $287.16.

While the luxury market gained ground, overall supply is still rising faster than demand. The Cromford® Market Index has slipped slightly as new listings outpace contracts. However, sales under $2 million remain stable, and the upper end continues to show surprising resilience.

National Trends
According to Redfin, nearly 17% of U.S. home sellers cut their asking prices in August — the highest rate for that month since 2019. The typical home sold for 3.8% under asking, marking the steepest discount since before the pandemic. Rising inventory and economic uncertainty have tipped the national market toward buyers in many regions.

Mortgage rates held steady at 6.36% last week, according to Mortgage News Daily, while Realtor .com reports national inventory growth of 17% year-over-year in September. Still, the supply rebound is uneven — the South and West now exceed pre-pandemic inventory levels, while the Northeast and Midwest remain tight.
Check current mortgage rates
_{Mortgage rates vary based on individual qualifications, including credit score, loan type, and lender policies. For a personalized rate estimate, it’s best to consult with a lender.}

🌵See You Next Week in the Desert

That’s it for this week’s Desert Real. From flying cars and football to Costco and cranes, Arizona keeps finding ways to surprise us. Whether you’re tracking new projects or watching the market for signs of a shift, we’ll be here breaking it all down for you.

See you next week,
– Brad