Phoenix Metro Market Update - February 2026

As we move into our busiest buying season here in Greater Phoenix, activity is definitely picking up, but it's not a one-size-fits-all market.

Here's what I'm seeing firsthand

•  Well-priced homes that show beautifully are receiving multiple offers.

•  Some of those offers are contingent (buyer must sell first).

•  Buyers are still picky.

•  And yes… some buyers are still writing very aggressive, low offers.

•  In many areas and price points, buyers still hold the advantage.

•  It's a nuanced market and strategy matters.

FOR BUYERS

Buyer demand has improved compared to last summer, and mortgage rates have stabilized in the low 6% range (with FHA and ARMs even lower). Contracts in escrow are up compared to this time last year, and we're entering peak activity over the next 2–3 months.

That means:

•  Buyers have choices.

•  There is negotiating power in many price points.

•  Incentives (especially in outer areas and with new builds) are real.

Non-luxury pricing under $800K is averaging about 4% lower than last year. Combined with rate improvements, monthly payments are meaningfully better than they were a year ago.

That said…

If a home is priced right, updated, staged well, and in a desirable location it can absolutely move quickly and attract competition.

Timing the market perfectly is nearly impossible. But buying smart with negotiation strategy and strong positioning is completely possible.

FOR SELLERS

•  It's business as usual with precision required.

•  Spring always brings a wave of new listings, and we're seeing that now.

•  When more homes hit the market, competition increases and buyers become more selective.

Here is the truth:

•  Overpricing results in silence.

•  Buyers will “ghost” homes that test the market.

•  Once pricing aligns within 2–3% of perceived value, activity increases dramatically.

•  Buyers today are extremely value-driven. It's not about squeezing every dollar out of upgrades — it's about being the best “bang for the buck” in the buyer's eyes.

•  Condition matters more than ever.

In this market:

•  Clean.

•  Well-maintained.

•  Move-in ready.

•  Strong presentation.

Those homes win.

Simply discounting for needed work often doesn't work. Buyers don't just discount the repair cost, they discount the hassle. Providing contractor quotes, addressing repairs ahead of time, or offering smart concessions can make a major difference.

Also, new construction within a 1–2 mile radius is competition whether we like it or not. Buyers are comparing incentives, condition, and value.

In Summary

• This is not a frenzy market.

• It's not a crash market.

• It's a strategy market.

Buyers have leverage in many cases, but not on the best homes.

Sellers can absolutely succeed, but pricing and presentation must be intentional.

If you're thinking about buying or selling, I'd love to walk through what this means specifically for your neighborhood and price point.

Every micro-market is different.

And as always, thank you for your continued trust and referrals.