June 2026 Phoenix Housing Market Trends

Phoenix Housing Market Overview

The Phoenix housing market continues to move at a more balanced pace than the fast-moving years of 2021 through 2023.

• Mortgage rates remain elevated compared to the pandemic era, reducing purchasing power for many buyers and slowing overall demand.
• Inventory has grown significantly over the past year, giving buyers more homes to choose from and reducing the urgency that once fueled multiple-offer situations.
• Homes are taking longer to sell, with many remaining on the market for nearly two months before going under contract.
• Home prices have remained relatively stable. While rapid appreciation has slowed, values have generally held up. Many homes are selling below their original asking price as buyers negotiate more aggressively.

Overall, today’s market feels much more balanced. Buyers have more choices and greater negotiating power, while sellers must compete on price, condition, and presentation.

Phoenix Housing Market for Sellers

Although it’s no longer the frenzied seller’s market of a few years ago, well-prepared homes continue to attract qualified buyers.

• Price realistically from day one. Overpriced homes often remain on the market longer and ultimately require larger price reductions.
• Prepare your home to stand out. Professional presentation, completed repairs, and strong curb appeal matter more when buyers have options.
• Be prepared to negotiate. Closing cost assistance, mortgage rate buydowns, or other concessions can help attract buyers and keep transactions together.
• Work with current market data. Recent comparable sales—not last year’s prices—should guide your pricing strategy.

Phoenix Housing Market Outlook

The Phoenix market has shifted toward a healthier, more balanced environment. Buyers benefit from increased inventory and additional negotiating leverage, while sellers who price competitively and present their homes well continue to achieve successful sales.

Real estate remains highly local. Market conditions can vary considerably from one neighborhood to another, making local knowledge more important than ever when buying or selling a home. (While this report covers the overall Phoenix housing market, conditions in the Cave Creek, Carefree, and North Phoenix corridor can differ significantly from Valley-wide trends.)

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