Arizona Housing Update: Inventory Up, Prices Softening, Buyers Gain Power
Arizona Housing Update: Inventory Up, Prices Softening, Buyers Gain Power
The Arizona market continues to shift in buyers’ favor as we wrap Thanksgiving week. Active inventory is up about 7% YOY, marking the highest holiday-season supply since 2019.
Price Trends
Median list price: ~$515,000
Median sold price: ~$498,000
YOY appreciation: 1–2%, but flattening
42% of active listings now show price reductions
Buyers — especially FHA and first-time buyers — are finally getting breathing room.
Builders Are Boosting Affordability
Across the Phoenix metro, builders continue offering:
Temporary buydowns as low as 3.99%
Closing cost incentives
Spec home availability in the West Valley and Southeast Valley
Insurance Update
Homeowners insurance premiums are climbing moderately (7–11% YOY), but no major carrier changes occurred this week.
Why It Matters
Demand is slowing seasonally while supply remains elevated — giving December buyers some of the best leverage since pre-pandemic years.
