Arizona Housing Market: Trends and Forecast 2026

Greater Phoenix's housing market is balanced with a median sales price around $445,000, slightly up year-over-year, and about 4.3 months of supply. List prices are adjusting faster than sale prices, favoring buyers who negotiate on price per square foot, credits, and rate buydowns. Sellers should price competitively and avoid lingering listings. Investors must carefully assess local costs and rental demand. Tucson and smaller markets differ and require separate analysis.