The Metro Phoenix housing market is experiencing a sluggish start at the beginning of 2026. Home sales in the region have slowed compared to previous years, with buyers showing more hesitation in making large financial decisions amid ongoing economic uncertainties. While inventory has risen modestly, the increased supply has yet to translate into more affordability or stronger sales, as high mortgage rates continue to dampen buyer enthusiasm.
Real estate experts suggest that the current market trends reflect broader national patterns, with a wait-and-see attitude prevailing among both buyers and sellers. Sellers are less inclined to drop prices significantly, holding onto the hope that the market will rebound, while many buyers remain on the sidelines waiting for a more favorable climate. As a result, local housing activity is expected to remain tepid at least in the short term.
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