Phoenix Home Sales Rise 3.8% Year-to-Date
Single-family home sales in the Greater Phoenix area increased by 3.8% through August, outpacing the national average despite a seasonal slowdown in August.
Single-family home sales in the Greater Phoenix area rose 3.8% year-to-date through August. This growth outpaced the national average, where sales increased 2.4% over the same period. Data from Phoenix REALTORS indicates a steady upward trend in closed transactions despite recent monthly fluctuations.
August showed seasonal softness, with closed sales down 6.1% compared to the previous year. Pending sales dropped sharply by 34.8% in the month. However, the cumulative data for the first eight months of 2026 shows 43,194 homes sold, a figure higher than the same period in 2025.
Market Activity Remains Stable
Nearly 86,000 homes are currently in the process of being sold or are pending in the region. This count exceeds the 85,000 total recorded in the same window last year. The median sales price increased to $483,000 from $480,000 in the prior year.
Homes are staying on the market longer, with an average of 78 days to sell. This is a five-day increase from the 73 days recorded last year. The affordability index remains flat at 73, indicating typical households earn three-quarters of the income needed for a median-priced home.
August Pending Sales Hit Record Low
Only 3,382 pending sales were recorded in August, the lowest monthly total since January 2009. New listings also declined by 9.2% during the month. However, inventory levels remained relatively balanced, with months supply rising slightly from 3.9 to 4.0.
Sammy Glassman, board president of Phoenix REALTORS, noted that over 8,000 homes were in the process of selling in August. This volume represents more than a third of the total housing inventory. Glassman expects sales to pick up as the market moves into fall.
Suburban Markets Show Varied Trends
Phoenix city proper saw closed sales rise 2.1% year-to-date, aligning with the broader regional trend. Scottsdale reported a stronger performance, with closed sales jumping 11.6% compared to last year. Pending sales in Scottsdale increased by 7.4% despite a monthly dip in August.
The median home price in Phoenix held steady at $485,000. Scottsdale’s median price continued its upward trajectory, though specific figures for the full year were not detailed in the summary. These local variations highlight the resilience of suburban housing markets in the region.
