September 2026 Greater Phoenix Real Estate Market Report

The Greater Phoenix housing market continued to moderate in September 2026, with single-family home sales declining year over year for the second consecutive month. Despite the recent slowdowns, year-to-date sales remain ahead of 2025, while population and job growth continue to provide strong underlying support for the region's housing market.

Key Highlights

• Single-family home sales totaled 3,734, down 5% year over year, while year-to-date sales remained 3% higher than 2025.
• New listings increased 8% year over year to 6,064 homes.
• The median purchase price held at $500,000, unchanged from August but 2% lower than September 2025.
• Seller concessions became more common, appearing in 59% of sales, with a median concession of $10,875.
• Higher mortgage rates continued to affect financed purchases. Conventional-loan purchases declined 11% year over year, while cash purchases increased 1% and VA purchases rose 8%.
• Luxury activity was a bright spot, with sales in several price ranges above $2 million outperforming September 2025.
• Foreclosure noticed increased 25% year over year, while completed foreclosures increased 8%.

Great Phoenix is showing signs of a slower, more buyer-friendly market as sales moderate and seller concessions become more common. However, year-to-date sales remain positive, and continued population and employment growth provide underlying support for long-term housing demand across the region.

Download the full September 2025 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