Staff Reports | Dwellings & Multifamily
Greater Phoenix saw single-family home sales increase 4.7% in April year over year, even as national existing-home sales declined 1% during the same period.
Despite the increase in closed sales, a drop in pending sales signals potential challenges ahead in the housing market, according to a press release.
“Considering the economic uncertainty dominating headlines in April, it was a strong month for our members helping clients get into new homes,” Phoenix REALTORS board President Sammy Glassman said. “Looking ahead, housing inventory does appear to be tightening, while pending sales may reflect continued consumer hesitation tied to broader economic concerns.”
While closed sales rose, pending sales declined 31.5% in April compared with April 2025. Through the first four months of 2026, pending sales fell 5.2% from the same period last year. New listings also declined, dropping 12.1% year over year in April and 4.3% year to date.
The number of homes for sale increased 2% compared with April 2025, resulting in a 4.5-month supply. Homes remained on the market longer, increasing from 73 to 80 days year over year.
The median home price increased 1.6% in April compared with last year. Year to date, the median price is down 0.2% to $484,000.
The percentage of list price received in closed sales remained at 98%, a slight 0.2% decrease compared with the first four months of 2025.
“Many buyers are offering close to the asking price, but seeking incentives to reduce move-in costs,” Mr. Glassman said. “We see that buyers are looking for about 2 to 3% of the sales price to offset mortgage rates or cover move-in costs like prepaid taxes or homeowner insurance.”
Although pending sales declined in April compared with last year, closed sales were slightly above the 12-month average and above the 10-year average.
The Greater Phoenix housing affordability index held at 75, consistent with the 12-month average. The index indicates the median household income is 75% of what is needed to purchase a median-priced single-family home.
Phoenix
The city of Phoenix reflected broader market trends, with closed sales increasing 4.3% in April compared with the same month last year and rising 2.6% year to date. Pending sales declined 34.5% year over year and 9.3% during the first four months of 2026. Homes in Phoenix averaged 68 days on the market, compared with 80 days across the metro area. The median home price decreased 1.2% to $489,000 through the first four months of 2026 compared with the same period last year.
Scottsdale
The median home price in Scottsdale increased 3.9% year over year to $1.28 million. Closed sales rose 8.8% during the same period, while pending sales increased 1.4%. New listings declined 1.1%.
Goodyear
In Goodyear, closed sales decreased 3.5% year to date. Pending sales declined 11.7%, and new listings dropped 11.5% year over year. The median home price increased 0.9% to $484,250.
Buckeye
Closed sales in Buckeye increased 8.2%, while declines in new listings (2.6%) and pending sales (4.2%) were smaller than in other areas. The median home price decreased 2.1% to $404,245.
Mesa
Closed sales in Mesa increased 2.4% year over year. The median home price rose 0.4% to $489,000. Pending sales declined 5.9%, and new listings decreased 3.3%.
Peoria
In Peoria, closed sales increased 7.3% year over year. New listings declined 2.7%, and pending sales decreased 3.7%. The median home price increased 1.7% to $544,000.
