Staff Reports | Dwellings & Multifamily
Greater Phoenix single-family home sales increased year over year for the 12th consecutive month, with May closings rising 4.6% compared with May 2025 and year-to-date closings up 4.7%.
Nationally, existing home sales increased 0.2% from the previous month and were unchanged year over year, according to a press release.
Year-to-date pending sales declined 2.1%, while new listings fell 4.7%.
“Many were expecting May to be a challenging month after April’s numbers and with the continuing economic uncertainty,” said Sammy Glassman, board president of Phoenix REALTORS. “Instead, closed sales continued to show year-over-year growth. Pending sales and new listings are still down so far this year, the declines are slight, and the market is holding steady from a year-to-date perspective.”
Mr. Glassman said the data indicates steady market conditions despite broader economic concerns.
The year-to-date median home sales price in the metro area remained at $485,000. Days on the market increased from 72 to 79 days, a 9.7% rise. The housing affordability index increased to 73 from 71, indicating that more median-income households could afford median-priced homes.
Inventory supply declined from 4.5 months in May 2025 to 4.3 months in May 2026, reflecting fewer new listings.
Maricopa County drives the market
Greater Phoenix data includes residential real estate activity in Maricopa, Pinal, Gila and Cochise counties, though trends in Maricopa County represent a significant portion of the region’s activity.
“Even with incentives on the table, we did see a minuscule price slip in Maricopa County,” said Glassman. “Because Maricopa County accounts for much of the region’s real estate activity, its trends closely mirror the broader four-county Phoenix REALTORS data.”
Mr. Glassman said Maricopa County remains a primary indicator of regional real estate trends.
Maricopa County single-family median sales prices through May decreased 1% to $510,000 from $515,000 in 2025. Closed sales increased 4.5%, while pending sales declined 2.2%. Days on the market rose to 75, and new listings fell 5.2%.
“When looking at the data each month, trends are the best way to get a pulse on market conditions,” Mr. Glassman said. “However, some of the May numbers stand out when looking specifically at the broader Greater Phoenix single-family market.”
Across the broader region, single-family closed sales totaled 6,182 in May, up 4.6% from May 2025. Pending sales decreased 29% year over year to 3,865.
New listings totaled 7,054 in May, down 12.6% from the same month last year. Days on the market declined to 73, below the 12-month average of 78.
The median sales price in May was $485,000. Inventory reached 21,816 homes, the highest level in the past 12 months, though down 1.8% from May 2025. The supply of inventory was 4.3 months.
Phoenix
In Phoenix, May single-family closed sales declined slightly, though year-to-date sales increased 1.9%. The median home price remained at $490,000. Pending sales fell 5.4% and new listings declined 6.6%. Days on the market increased from 63 to 65.
Scottsdale
Scottsdale reported a 2.1% increase in year-to-date median sales prices, rising to $1.27 million from $1.24 million in 2025. Closed sales increased 10.3%, while pending sales rose 6.1%. New listings decreased 3%, and days on the market increased from 76 to 82.
Chandler
Chandler reported a 6.0% increase in closed sales compared with the same period in 2025. Pending sales increased 0.2%, while new listings declined 8.7%. The median sales price decreased 1.1% to $555,000. Days on the market increased from 56 to 61.
Buckeye
Buckeye’s median sales price declined 2.9% to $400,000 for the first five months of 2026 compared with 2025. Pending sales increased 3.7%, while new listings decreased 0.1%. Days on the market increased from 81 to 86.
Surprise
In Surprise, the median sales price remained at $435,000. Closed sales increased 16.1%, and pending sales rose 6.8%. New listings declined 4.8%. Days on the market increased from 79 to 89.
