August 2026 Greater Phoenix Real Estate Market Report

The Greater Phoenix housing market showed signed of moderation in August 2026, with both home sales and new listings declining compared to a year ago. Despite the slowdown, year-to-date sales remain ahead of 2025 levels, while stable home prices and rising list prices suggest underlying market demand remains intact.

Key Highlights

• Single-family home sales totaled 3,611, down 5% year over year.
• Year-to-date home sales remain 4% ahead of 2025 despite the slower August performance.
• New listings declined 5% year over year to 4,938 properties.
• Total resale inventory decreased 2% year over year, with normal listings declining from 13,081 to 12,774 homes.
• The median purchase price was $500,000, unchanged from August 2025.
• The median list price increased to $525,000, up 3.3% from July, potentially signaling strength heading into the fall market.
• Homes under contract declined 4% year over year from 4,710 to 4,533 properties.

The Greater Phoenix market remains relatively stable despite softer sales activity and fewer listings. While buyers appear somewhat more cautious than earlier in the year, steady home values and rising list prices indicate continued confidence in the market as it heads into the fall selling season.

Download the full August 2026 Greater Phoenix Market Report

Author: Fletcher Wilcox

Fletcher was born in Yuma, AZ. At the time, his father played baseball for the Yuma Sun Sox, a minor-league baseball team affiliated with the Cincinnati Reds organization. Fletcher went to high school in Phoenix and graduated from Arizona State University. After spending many years in the escrow and title business, Fletcher joined the Private Client Group founded by Frank Aazami. He writes a monthly column on the Greater Phoenix real estate market, population growth and job growth for the Arizona Journal of Real Estate & Business. His market analysis has been quoted in national and local media outlets. In 2024, he emceed the following seminars at the Arizona School of Real Estate: 2025 Market Forecast; Custom Homes: how to price timeless design and architecture; Navigating Water, Energy and Growth; New Homes Sales Market. In 2023, Fletcher emceed the Luxury Golf Panel at the Pinnacle Peak Luxury Tour and the Luxury Home Seminar at the Arizona School of Real Estate. He has spoken at the following real estate marketing and tour meetings: the Heart of Scottsdale, the Scottsdale Luxury Tour, the Cave Creek Tour, the Carefree Tour, the Fountain Hills Tour and the Luxury Tour held in Paradise Valley. View All Posts