Someone recently said to me,
“I know July is going to be bad. What I need to know is what’s going to happen in September.”

He was referring, of course, to the Metro Phoenix Housing Market, and my honest reply was:

“I don’t know what’s going to happen in September. But right now, we’re on the verge of entering an Extreme Buyer’s Market, and by the end of this month, we’ll likely be in one.”

👉 Not sure what an Extreme Buyer’s Market means?
Read our article that explains what these terms really mean.

The Stats That Matter Most Right Now

Every month, I publish a data-driven market update featuring the 15 Key Stats That Reveal Where the Phoenix Housing Market Is Headed. These stats help buyers, sellers, and investors make smarter, more confident decisions.

Of the 15 stats, two jump out at me this month:

• Days on Market:
  • In 2024, homes were sitting an average of 68 days, high.
  • In 2025, that number has climbed to 84 days, close to very high.
• Supply / Demand Ratio:
  • In 2024, we were at 47.33%, just under Balanced Market.
  • In 2025, it has dropped to 31.71%, just over an Extreme Buyer’s Market.

This shift is a dangerous combination:
📈 Inventory is up 38%
📉 Homes under contract are down 7.44%
📈 Days to sell a home are up 24%

Buyers are on the sidelines, watching. Concerned about everything from interest rates, inflation, and tariffs to jobs, wars, and economic uncertainty, many are simply waiting to see what happens next.

Optimist or Pessimist?

If you’re an optimist, this might be the perfect time to buy a home in Arizona. Why?
✅ You have leverage.
✅ You have options.
✅ You can negotiate.
✅ Mortgage rates could go lower.

If you’re a pessimist, this market may raise red flags that we’re headed toward a housing correction, or worse.

I am optimistic, however I think it would be foolish to ignore the facts. So let’s take a quick look at where we stand today.