Greater Phoenix saw single-family closed home sales rise 4.7% in April year over year. Compared to national existing-home sales, which declined 1% year over year, the Metro Phoenix housing market closed sales activity was significantly stronger. Despite the positive closed sales results, weaker pending sales numbers point to potential challenges in the months ahead. 

READ MORE: How Optima McDowell Mountain offers sustainable luxury living

“Considering the economic uncertainty dominating headlines in April, it was a strong month for our members helping clients get into new homes,” said Sammy Glassman, board president of Phoenix REALTORS®. “Looking ahead, housing inventory does appear to be tightening, while pending sales may reflect continued consumer hesitation tied to broader economic concerns.” 

While closed sales rose, the number of pending sales dropped 31.5% in April compared to April 2025. Through the first four months of 2026, pending sales were down 5.2% from the same period last year. New listings also declined, falling 12.1% year over year in April and 4.3% year to date. 

The overall inventory of homes for sale rose 2% in April compared to last year, pushing the supply to 4.5 months. Homes are sitting on the market longer, up from 73 to 80 days in the year-over-year comparison. 

The median home price ticked up a little to 1.6% in April compared to last year, but the year-to-date comparison with 2025 is essentially flat, down 0.2% to $484,000. 

The percentage of list price received in closed sales remains at 98%, a statistically insignificant 0.2% decrease compared to the first four months of 2025. 

“Many buyers are offering close to the asking price, but seeking incentives to reduce move-in costs,” Glassman said. “We see that buyers are looking for about 2 to 3% of the sales price to offset mortgage rates or cover move-in costs like prepaid taxes or homeowner insurance.” 

Although pending sales plummeted in April compared with 2025, the number of closed sales in April is slightly above the 12-month average and considerably greater than the last-decade average. 

The Greater Phoenix housing affordability index held steady at 75, which is the same index average as the last 12 months. The index means that the median household income is 75% of what is needed to purchase the median-priced single-family home. The median sales price, with April’s 1.6% increase over last year, was above the 12-month average, which was completely flat. 

Phoenix 

The City of Phoenix mirrored the overall market, with closed sales up 4.3% in April over the same month last year, and up 2.6% year-to-date compared with 2025. Its pending sales dove 34.5% from last year and down 9.3% in the first four months of 2026. In the city, the average home was on the market for 68 days compared to 80 days in the metro area. The median home price slipped 1.2% to $489,000 for the first four months of 2026 compared to 2025. 

Scottsdale 

The median home price in Scottsdale continues to climb, regardless of price changes in other cities. The $1.28 million median price is up 3.9% year over year. The number of closed sales jumped 8.8% over the same period, while pending sales rose 1.4%. New listings dropped 1.1% in the city. 

Goodyear 

Early this year, the Goodyear market was outpacing the Greater Phoenix numbers, but the last couple of months, that trend has reversed. Closed sales in Goodyear were down 3.5% year to date, and pending sales dropped 11.7%, while new listings declined 11.5% year over year. The median sale price was essentially flat, but rose 0.9% to $484,250. 

Buckeye 

In the Great Recession, Buckeye was hardest hit by changes in the residential real estate market. Right now, it’s beating the averages. Closed sales climbed 8.2%, and even though dropping, the slips in new listings (-2.6%) and pending sales (-4.2%) were better than in most other market cities. The median price of a home did dip 2.1% to $404,245. 

Mesa 

Closed sales rose 2.4% in Mesa year over year, while the median home price just about held steady, up 0.4% to $489,000. Pending sales were down 5.9%, and new listings slipped 3.3% in the East Valley city. 

Peoria 

The West Valley city of Peoria has had a good year, with closed sales rising 7.3% year over year. New listings, down 2.7%, and pending sales, down 3.7%, are in line with the market average — the median price for a home moved up 1.7% to $544,000. 

Learn more about Phoenix REALTORS.