Is the housing market slowing down in Phoenix, AZ?
No — sales activity in Phoenix, AZ is up. 6,783 homes sold during May 2026, against 6,501 in the same months a year earlier, a rise of 4%.
This page is about how many homes changed hands, not what they cost. The two move separately: prices are set by the homes that did sell, and volume tells you how many people managed to transact at all. A market can hold its prices while activity quietly drains out of it.
The change clears both tests we require before naming a direction: it is more than 3% in relative terms, and it is larger than the ordinary month-to-month variation you would expect on a market that sells 6,783 homes at a time.
The longer view, all measured over the May window so the season is held constant: 6,950 homes sold two years ago, 6,501 last year, 6,783 now. Across two years the level has held roughly steady.
What is on the shelf next to what is selling: 23,918 homes were on the market in Phoenix, AZ, and 6,783 sold. At that pace it would take about 3.5 months to clear them all. Buyers and sellers are about evenly matched right now.
Every comparison on this page is to the SAME calendar months a year earlier, never to last month. Home sales roughly double between January and May in most of the country, so a month-over-month reading would tell you about the season and nothing about the market.
Source: Redfin's published market data for the Phoenix, AZ area, through May 2026.
Are you the agent for Phoenix, AZ?
We build this page's numbers into a one-page report with your name, brokerage and phone on it, for up to three areas you work — emailed to you fresh every month. Forward it to clients. $49 a month, cancel anytime.
See a real sample report first — no email needed.
More about the Phoenix, AZ market
- When is the best month to sell a house in Phoenix, AZ?
- How long does it take to sell a house in Phoenix, AZ?
- Do homes sell above asking price in Phoenix, AZ?
- Are home prices going up or down in Phoenix, AZ?
- Is Phoenix, AZ a buyer's market or a seller's market?
- Are sellers cutting prices in Phoenix, AZ?
- What is the average home price in Phoenix, AZ?
- How many homes are for sale in Phoenix, AZ?
- All Phoenix, AZ housing numbers
Other markets
- Is the housing market slowing down in Tucson, AZ?
- Is the housing market slowing down in Prescott Valley, AZ?
- Is the housing market slowing down in Lake Havasu City, AZ?
- Is the housing market slowing down in Flagstaff, AZ?
- Is the housing market slowing down in Yuma, AZ?
- Is the housing market slowing down in Sierra Vista, AZ?
- Is the housing market slowing down in Show Low, AZ?
- Is the housing market slowing down in Payson, AZ?
Figures come from Redfin's published market data for the Phoenix, AZ area, through May 2026. Neighborhood Numbers is an independent data publisher and is not affiliated with Redfin. We update these pages when Redfin publishes, once a month.