What’s Really Happening in the Phoenix Housing Market Right Now

Phoenix housing market update: Is the market crashing, recovering, or just stuck in neutral? The latest data from Greater Phoenix tells a much more nuanced story than the headlines suggest. In this quick update, The At Home AZ Team breaks down what’s actually happening with inventory, demand, prices, days on market, and buyer leverage across the Phoenix market. Here’s what stands out: active inventory has declined by more than 800 homes in the last month, and there are actually fewer listings available today than there were a year ago. That suggests supply may be beginning to tighten rather than expand. Demand is also stronger than many people think. Pending sales are higher than they were a year ago, and annual sales volume has risen by more than 6%, showing that buyers are still actively purchasing despite affordability pressures. Meanwhile, the median home price is holding around $455,000, almost unchanged over the past two years. That’s not the behavior of a crashing market. What is changing is buyer behavior: price per square foot has softened, days on market have increased, and overpriced homes are taking longer to sell. What You’ll Learn In This Video: Why Phoenix inventory is more balanced than headlines suggest What declining active listings could mean going forward How buyer demand compares to last year Why annual sales volume is an important signal What stable median prices say about the market Why buyers are becoming more price sensitive What the Cromford Market Index says about leverage Why local strategy matters in places like Ahwatukee, Chandler, Gilbert, and Tempe If you want a custom update for your neighborhood or property type, The At Home AZ Team would love to help. 📍 The At Home AZ Team #PhoenixHousingMarket #PhoenixRealEstate #TheAtHomeAZTeam #PhoenixMarketUpdate #ArizonaRealEstate