It is April 2, 2026, and while the results are not final yet, we already have a pretty good idea of how the Metro Phoenix housing market is performing. We track ten key metrics each month for single-family detached homes (SFDs) sold through the MLS in Maricopa County, along with five national economic indicators.

The primary thing I noticed about March sales and inventory levels as of April 2 is the very strong buyer activity. A total of 5,017 homes were sold in March, which we expected because the number of homes under contract on March 1 was so high. This is much higher than last month and also higher than last year.

This month, inventory is up slightly, and the number of homes under contract is up even more. As a result, the supply-to-demand ratio has increased, which favors sellers a bit more. Even so, this is still clearly a market that favors buyers when it comes to the number of homes available for sale.

One factor that does not favor buyers is the spike in the 30-year mortgage rate. Our chart reflects the monthly average, but in reality, the weekly average increased by 0.48 from the end of last month to the beginning of this month, which is significant. Most experts agree that this is likely temporary, and when hostilities ease and oil prices come down, mortgage rates will likely come down as well.

Overall, the Arizona home-selling season is much stronger in 2026 than it was in 2025.