Metro Phoenix Housing Market Update, June 2026
It is July 2nd, and the June numbers are in. Arizona runs on two seasons. There is the Season, roughly January to Easter, when the weather is perfect, visitors fill the Valley, and sales run strong. Then there is Summer, when it hits 110, a lot of people head somewhere cooler, and sales usually slow. So if the market feels like it is easing off right now, that is normal. Summer is also when buyers tend to have the most negotiating power. Here is what the numbers show.
What the numbers say
4,722 homes sold in June. A little below May, and still ahead of last June. The average price rose to about $733,000, most likely because more high-end homes sold, not because the whole market jumped.
Homes are taking about 84 days to sell. That is on the high side, and it means sellers are more open to talking price, terms, repairs, or credits.
There are about 13,300 homes for sale, running roughly 60% above a normal summer. Plenty to choose from. At the same time, demand cooled fast. About 500 fewer homes went under contract than a month ago, and it is now running a touch under last year. Fewer buyers out looking and more homes to pick from. That is leverage.
The 30-year rate averaged 6.49% in June, up a little from May, and still below last year. Some of that pressure ties back to the conflict in the Middle East. If that settles, many expect rates could ease, though no one can promise it.
The Dow is well above last year. Bitcoin is down from last year but still holding above $70,000. Both feed Arizona’s luxury market, which has already set records this year.
Something worth knowing right now
I am in the Valley all Summer, and I am glad to show you homes even when it is 110 out. When fewer buyers are out looking and homes sit longer, the ones who do buy usually have more room to negotiate. If the rate is what is holding you back, we can ask the seller for a 2-1 buydown, which lowers your payment for the first two years. I can also help you tap the equity in your home with a line of credit or a cash-out second. And if you invest, I do Fix and Flip bridge loans, DSCR loans for rentals, and bank statement loans for the self-employed.
The bottom line
If you own and you are just checking your value, it held again in June and sits above last year. If you are thinking about selling, Summer is the slower season, so pricing and prep matter more now than they did in the Season. If you are buying, this is the stretch where sellers are most open and choice is widest, and the right financing can bring the payment down. I am glad to walk you through what this means for your street and your price range. Call or text Michael Hankerson directly at 602-770-7205.