Phoenix, AZ metro area Housing Market Brief
metro · as of May 2026
What is Phoenix, AZ metro area’s Alpha Score?
The Alpha Score is a composite 0–100 index of market strength, a weighted blend of five dimensions. See the methodology.
Where is Phoenix, AZ metro area in its market cycle?
Phoenix, AZ metro area is classified as Mature — holding near a healthy peak. This is a classification of recent (1–12 month) momentum, not a price forecast.
Phoenix, AZ metro area housing market data
| Metric | Value | YoY |
|---|---|---|
| Median Sale Price | $469K | ▲ +2.6% |
| Median Days on Market | 61 days | ▼ -2.1% |
| Months of Supply | 3.5 | ▼ -26.3% |
| Homes for Sale | 23,918 | ▼ -7.4% |
| Homes Sold | 6,783 | ▲ +21.9% |
| Median Price / Sq Ft | $257 | ▼ -0.4% |
| Sale-to-List Ratio | 98.1% | ▲ +0.1% |
How has Phoenix, AZ metro area’s Alpha Score moved?
Markets like Phoenix, AZ metro area
- Fort Worth, TX metro areametro44
- Atlanta, GA metro areametro45
- Seattle, WA metro areametro44
- Indianapolis, IN metro areametro45
- Tacoma, WA metro areametro44
- Salt Lake City, UT metro areametro46
- Raleigh, NC metro areametro44
- Orlando, FL metro areametro43
- Las Vegas, NV metro areametro46
- Jacksonville, FL metro areametro46
Frequently asked questions
Is Phoenix, AZ metro area a buyer's or seller's market?
As of May 2026, Phoenix, AZ metro area is classified as a Balanced Market, based on its Alpha Score of 44 out of 100. The classification reflects current price, inventory, affordability, economic, and rental-yield conditions.
Are home prices rising or falling in Phoenix, AZ metro area?
The median sale price in Phoenix, AZ metro area is $469K, having risen 2.6% over the past year.
How affordable is Phoenix, AZ metro area?
Phoenix, AZ metro area scores 50 out of 100 on affordability — moderately affordable relative to local incomes and prevailing mortgage rates compared with other metros.
What's driving Phoenix, AZ metro area's Alpha Score?
Phoenix, AZ metro area's strongest dimension is Affordability (50/100) and its weakest is Inventory Health (34/100). The Alpha Score is a weighted blend of all five dimensions.
Want the live, interactive view of Phoenix, AZ metro area? Open the full market dashboard — charts, ZIP-level drill-down, and watchlist tracking. Explore the map or read the methodology.