Phoenix Housing Market Summer 2025 Update

May 28, 2025
Here's your market update for greater Phoenix Housing Market. For the start of summer, 2025 days of inventory have increased to 124. This is one of the highest levels of I inventory we've seen for the past 10 years. The number of homes sales are slightly higher than last year in 2024, but are still at some of the lowest levels we've seen since 2014.
We are currently seeing about 3000 home owners drop their sales price each week with a medium sales price drop of $10,000. Of the homes that do sell. 51% of those home sellers are giving the buyer concessions to pay for finance and closing cost with an average amount being $10,000. 13 of the 17 cities of the valley.
Have entered into being a buyer's market. If you have specific questions about your own neighborhood circumstances and what you'd like to achieve, please feel free to reach out.