Greater Phoenix home sales rise in 2026 despite slower summer market

Existing single-family home sales in Greater Phoenix rose 5.1% year-to-date, with pending sales down 0.6% and new listings down 2.8%. Median home prices increased 1% to $485,000, while housing affordability remained stable. Inventory rose 1.3%, representing a four-month supply. Market activity varied by area, with some cities seeing sales and prices increase, while others experienced declines or slower activity.