Housing Market Trends in Phoenix AZ

What are the prospects for the Phoenix area housing market?

  • December 2022, Phoenix home prices were down 1.4% compared to last year.
  • The median selling price is $410K.
  • On average, homes in Phoenix sell after 61 days on the market compared to 31 days last year.
  • There were 1,242 homes sold in December this year, down from 2,427 last year.
  • The Sale-to-List Price is 96.7% -3.7 points from last year
  • Homes selling above list price is 11.9%, -37.7points down from last year
  • From Oct '22 - Dec '22, 26% of Phoenix homebuyers searched to move out of Phoenix
  • From Oct '22 - Dec '22, 74% looked to stay within the metropolitan area.
  • Los Angeles homebuyers searched to move into Phoenix more than any other metro followed by Seattle and Tucson.
  • Prescott Valley was the most popular location among Phoenix homebuyers.

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