Market Perspective | Greater Phoenix
Greater Phoenix Housing Market Update | Dec 20, 2025
Mid-December data surprised the market: pricing strengthened as buyer demand improved and inventory pulled back. As we move into early 2026, the data suggests a pause — not a surge.
What happened in mid-December
We’re closing out 2025, and mid-December data brought a surprise in the Greater Phoenix metro housing market: pricing came in stronger than expected — which is unusual for this time of year.
That move wasn’t random. Demand picked up as rates stabilized, and inventory pulled back quickly — which tightened the market. Pending contracts and closings both increased, confirming that buyer activity improved.
The takeaway heading into early 2026
Markets don’t reset on January first — they absorb momentum. And December gave us momentum worth watching. Based on what we saw, early 2026 is more likely to pause than surge, with prices holding steadier in a tighter range.
What this means for buyers and sellers
- Buyers: affordability improved mainly because rates came down. If you’re active, stay disciplined and pay attention to value.
- Sellers: realistic pricing and preparation matter most in a selective market. Condition, presentation, and strategy are the edge.
- Agents: local data beats headlines. Use market reality to guide pricing and negotiations.
Local data beats headlines.