Fall 2025 Update: Is The Phoenix Housing Market Slowing Down?

By Monique Walker

Monique Walker has 21 years of experience successfully buying and selling homes in the Phoenix market. She knows the neighborhoods, schools, and the local economy. Monique and her team do all the leg work, keeping you up-to-date with new listings and conditions as they impact the market.

Are you trying to figure out whether the Phoenix housing market is speeding up or slowing down? With everything moving in different directions, it can be tough to see what’s really going on. Whether you’re buying or selling, the latest numbers give us a clear look at where things actually stand right now.

More listings on the market. Phoenix currently has 27,000 active listings, compared to 22,000 at this time last year. This increase shows that more homes are available today than before.

Sales are up but homes take longer to sell. In the last 30 days, 6,100 homes were sold, slightly more than the 5,900 sold during the same period the previous year. However, homes are taking longer to sell. Days on market have gone from 71 last year to 86 now, showing the market is slowing down a bit.

Appreciation turns negative. Appreciation over the last 30 days is at -2.6%. At this time last year, appreciation was +3.6%. This shift is one of the most telling signs of how the market is adjusting.

Sales ratio falls, prices stable. Right now, 68% of the current inventory is selling, compared to 74% last year. Even with that drop, the average sales-to-list price ratio remains steady at 97%, a figure that has held steady for two years.

Increase in months of supply. Months of supply have increased to four months. Last year at this time, supply was at three months, reflecting a meaningful change in market pace.

Phoenix market summary. Based on the latest data:

• Demand is still a little weak.
• There is slight downward pressure on pricing, though not a major decline.
• Optimism is growing as rates improve, and there is hope that the Fed may decrease rates in the coming weeks.

Why working with a local agent matters. Real estate is always hyper-local. Working with an experienced professional can help you understand the nuances in your specific zip code or neighborhood and uncover the right opportunities for you.

If you want to know what’s happening in your neighborhood, reach out anytime at (602) 413-8195 or email Monique@MoniqueSells.com. I’d be happy to provide a free, personalized market analysis and help you understand the best opportunities for your home or next move.