Phoenix prices are rising again Arizona Housing Market Update 

Arizona's housing market is stabilizing. The tug-of-war between buyers and sellers is calming down, creating a more predictable environment as we close out 2025. This stability is good news—it means both buyers and sellers can make decisions with more confidence.

Phoenix prices have quietly recovered since hitting $420,000 in early 2023. By October 2025, the median price reached $465,000—a $45,000 gain. This isn't a bubble; it's steady growth fueled by job growth, population increases, and limited housing supply. The recovery has been gradual and sustainable.

Buyers still have the advantage in most areas. Out of 18 major cities, 12 became more buyer-friendly this month, while 5 shifted toward sellers (including Chandler, Tempe, and Buckeye). The changes are modest—around 5% or less—showing the market isn't swinging wildly in either direction. It's gently leaning toward buyers, but sellers in certain cities still have leverage.

Think of Arizona's 18 cities in three buckets: 6 are seller's markets (sellers have control), 5 are balanced (equal footing), and 7 favor buyers (more negotiating power). While buyers hold a slight edge overall, quality properties in good locations still sell quickly regardless of market type.

October showed interesting trends: total sales were 6,059 homes, down 1.5% from last year but up 2.1% from September. New home sales dropped 15.4% as builders pulled back after months of heavy incentives.

Meanwhile, resales grew 3%, showing this segment is healthy. Median prices held steady—overall at $478,990, new homes at $536,091, and resales at $460,000. The takeaway? Resales are the market's backbone right now, while builders are taking a more cautious approach.

Four things to remember: Buyer activity is steady but not rushing. Sellers are seeing longer days on market—patience and smart pricing are essential. Prices are adjusting slowly, staying just above last year's levels.

And here's the important part: even in a buyer-leaning market, well-priced, move-in-ready homes in desirable areas still sell fast. Quality and location always matter.