Phoenix Metro Housing Market Report: August 2026

Maricopa County · 2026-07 · median $504,900 · +1% YoY

Maricopa County’s residential market is currently flat to slightly soft on prices: recent county-level analyses and ARMLS-based reports show overall median sale prices around the mid-$400,000s, with July medians either unchanged month-over-month or down marginally year-over-year.[2][4][12] Inventory has been edging down, with active listings and months of supply slipping slightly compared with last year, even as closed sales ticked up modestly, signaling a gradual move away from the more oversupplied conditions of 2025.[2][3][4][5] Buyer-seller dynamics are balanced but cooling on the demand side: most homes sell below original list price, days on market have risen into the roughly two-to-three-month range, and pending sales and new listings have both declined, pointing to less competition and fewer bidding wars outside the most affordable price bands.[3][5][7][12] Locally, the market is being shaped by continued in-migration and job growth around Phoenix’s major employers and construction corridors, but also by higher mortgage rates and a pullback in new-home activity, with resale transactions now driving most of the county’s closings.[6][12][13]

Sources: [1][2][3][4][5]

Pinal County · 2026-05 · median $383,849 · -0.3% YoY

Pinal County’s residential market is relatively flat on prices with mild softening: Redfin reports a median sale price of about $383,849 in May 2026, down 0.3% year over year, indicating a stable-to-slightly declining price trend.[1] Inventory has increased, with Arizona Digital Free Press noting months’ supply rising to 4.4 months in July 2026, up 4.8% from July 2025, while closed sales, pending sales, and new listings are all modestly down from 2025, pointing to a cooler, more balanced market rather than a strong seller’s market.[4][9] Buyer-seller dynamics are shifting toward balance as demand eases: pending sales in Pinal County fell 5.3% and new listings dropped 5.7% compared with 2025, suggesting fewer bidding wars and more negotiation room for buyers.[4][9] A key local driver is strong population and job growth: Axios reports Pinal County is now the 7th fastest-growing county in the U.S., with growth fueled by households seeking cheaper housing than metro Phoenix and by major employers such as Lucid’s large EV manufacturing campus in Casa Grande, alongside expanding apartment construction supported by new state water programs that have unlocked more homebuilding.[12]

Sources: [1][2][3][4][5]

Pima County · 2026-06 · median $320,000 · -1.4% YoY

Pima County’s residential market is showing slight downward price pressure, with recent local reporting saying the median list price eased to $400,000 and Redfin showing Tucson home prices down 1.4% year over year over the three months ending June 2026.[1][11] Inventory is not surging but remains elevated enough to slow sales, with one county update reporting 3,154 active homes and Redfin saying homes in Pima County are taking 73 days to sell and receiving 2 offers on average.[1][2] The market still tilts slightly toward sellers, but only modestly, as local reporting describes a slight seller’s advantage while also noting more price reductions and longer days on market.[1] Local drivers are mixed: county housing officials point to migration of working-age remote workers, competition from institutional investors, and a recent slowdown in single-family permit activity, while also noting that existing home sales rose slightly and median resale prices stayed level in FY 2025/26.[14]

Sources: [1][2][3][4][5]