Metro Phoenix Home Sales Outperform the National Market

Greater Phoenix more than doubled the national growth rate for single-family residential home sales in June compared to the same month last year. Closed sales rose 8.1% locally while increasing only 3.2% nationally, according to data from Phoenix REALTORS®.

Comparing the first half of 2026 to 2025, closed deals rose 5.4%. At the same time, the median price of a single-family home essentially held steady at $485,000, ticking up just 0.2% from last year’s $484,000. Phoenix’s median single family home price sits well above the national average of $429,300. 

“There’s a difference between how people believe the real estate market is moving and what the data is showing,” said Sammy Glassman, board president of Phoenix REALTORS. “Home sales were very strong in June, and even the pending sales slight decline was significantly smaller than what we’ve seen in previous months.”

Over the first six months of this year, pending sales leveled off, dropping just 0.4% compared to the first half of last year. That number is a marked improvement over year-to-date comparisons from earlier this year, when pending sales plummeted 8.4% in YTD data through March, 5.2% through April, and rose slightly to a 2.1% decline in May. 

Days on the market, however, rose 8.3% to 78 days from 72 for the first half of 2026. New listings declined by 3.5% over the past six months.

The housing affordability index continued its increase, moving up 2.8% to 73. The index represents the percentage of median households who can afford the median-priced home. Both the inventory of homes for sale and the month supply of inventory declined in June 2026 compared to 2025. 

“The fact that prices are holding steady is increasing the universe of potential buyers,” Glassman said. “It’s been difficult to try and call a trend, but with steady prices, increasing affordability and leveling of pending sales, we might have a better-than-expected summer.”

The percentage of asking price being paid, 98.2%, has been holding steady for nearly three years, fluctuating up or down about 0.2% during the period. 

Individual cities are reporting a mix of activity for home sales. 

Phoenix

Closed sales increased 2.9% in Phoenix for the first half of 2026, but new listings dropped 5.2% and pending sales were down 3.7%. The number of days on the market increased to 65, up 3.2% compared to the first six months of 2025. The median price of a single-family home remained absolutely flat at $490,000.

Scottsdale

Scottsdale continues to show truly significant increases in sales and median sales prices; the first six months of 2026 delivered closed sales rocketing up 13.4%, carrying prices up 2.4% over last year to $1.265 million. The number of days homes sit on the market, however, also increased significantly, up 9.2% to 83 days. Pending sales jumped 9.3%, but new listings declined 3.7%.

Avondale

While new listings for the first half of 2026 increased by 1.9% in Avondale compared to the same six months in 2025, closed sales dropped by 4.2% and pending sales dipped by 7.5% over the same period. The median sale price increased 1.1% to $419,740, but days on the market skyrocketed 10.4% to 85. 

Mesa

Closed sales increased 4.8% in Mesa for the first half of 2026 compared to last year, and the number of days on the market declined 1.5% to 65. The median sale price held mostly flat, just down 0.6% to $486,250. New listings in the city declined by 4.7%, and pending sales dropped by 2.3%.

Peoria

In the Northwest Valley, Peoria saw closed sales increase, skyrocketing 9.4% when comparing this year to the first six months of 2025. New listings were just about flat, only up 0.4%, while pending sales jumped 4.8%. The number of days on the market rose 5.9% to 72, while the median price of a home sold during the first six months of 2026 was up 0.6% to $535,000, compared with the same period in 2025.

Queen Creek

In the Southeast Valley, Queen Creek saw its key numbers decline. Closed sales were basically flat, down 0.5%. Pending sales, however, dropped 6.4%, and new listings were down 5.5% for the first six months of 2026 compared to last year. Days on the market jumped to 89, climbing 6%, and the median home price declined 0.9% to $658,828.

Article originally published by AZ Big Media