Phoenix-area housing updates
Phoenix Housing Market Updates
See monthly home prices, listings and sales from across ARMLS, plus weekly U.S. mortgage-rate averages. Local conditions differ by city, neighborhood, price range and property type.
Weekly U.S. mortgage rates · October 22, 2026
Weekly mortgage rates: U.S. averages
Freddie Mac’s weekly averages cover lenders nationwide. They are a benchmark, not a Phoenix lender quote or a personal rate offer.
30-year fixed-rate mortgage
Source: Freddie Mac PMMS
15-year fixed-rate mortgage
Source: Freddie Mac PMMS
Comparing a local mortgage quote? Review Loan Estimates issued around the same time. Compare the loan type, interest rate, APR, points, fees and rate-lock period. The national averages above are not lender offers.
Freddie Mac averages are based on loan applications from lenders nationwide. The series does not publish APR, points or fees. Learn how APR differs from the interest rate.
Mortgage rate basics
What affects mortgage rates?
Mortgage rates respond to the bond market and each lender’s pricing. Investors consider inflation, economic growth and future interest rates. Federal Reserve decisions can influence expectations, but do not directly set a fixed mortgage quote.
What changed in the latest weekly rates?
Freddie Mac’s national 30-year average was 0.08 percentage points lower on October 22 than in the previous weekly report. The 15-year average was 0.03 percentage points lower. The report shows the change, but this comparison alone does not explain why rates moved.
A national average is a reference point, not a quote for one buyer.
How do Treasury bonds and mortgage bonds fit in?
The 10-year U.S. Treasury yield is one reference investors watch. Treasury yields reflect expectations about inflation, economic growth and future interest rates. Mortgage rates often move in a similar direction, but they are not Treasury rates.
Mortgage-backed securities, or MBS, bundle home loans into bonds. Investors consider the return and the chance that borrowers will refinance or pay loans off early. MBS prices, lender funding and operating costs, competition and loan risk all help shape the rates lenders offer.
Federal Reserve research on MBS yields and mortgage-rate pricing.
Why do inflation and economic reports matter?
Investors watch inflation, jobs, economic growth and government borrowing when pricing bonds. Markets also consider where interest rates may go in the future. Rates can move before a policy announcement and can rise or fall after new information.
A single headline rarely explains a rate change on its own; several market forces can affect rates at the same time.
Does the Federal Reserve set mortgage rates?
No. The Federal Reserve sets a short-term policy target and affects broader financial conditions. Lenders price fixed mortgage rates in bond markets and account for MBS pricing, lender costs and loan-specific risk. A Fed decision can influence market expectations, but it does not set a 30-year fixed quote or guarantee an immediate rate change.
September 2026 ARMLS report · published October 6, 2026
Phoenix housing market context: home prices, listings and sales
The latest monthly figures cover September 2026. The ARMLS report was published October 6, 2026.
Where these figures come from: They cover residential activity across ARMLS’s reporting area, not just Phoenix city or the Phoenix metropolitan area. ARMLS notes that coverage changes can affect year-over-year comparisons.
Median sale price
Reported periods · ARMLS service area
USD
The dates are spaced evenly for display. This compares reported periods, not a continuous monthly series.
Months of supply
Reported periods · ARMLS service area
Months
The dates are spaced evenly for display. This compares reported periods, not a continuous monthly series.
| Metric | Sep 2025 | Aug 2026 | Sep 2026 |
|---|---|---|---|
| Closed sales | 6,083 | 5,550 | 5,672 |
| Active listings, excluding UCB/CCBS | 24,192 | 23,410 | 25,251 |
| New listings | 9,071 | 8,128 | 9,350 |
| Median sale price | $450,000 | $445,000 | $450,000 |
| Median days on market | 66 | 64 | 63 |
| Months of supply | 3.98 | 4.22 | 4.45 |
Source: ARMLS® COPYRIGHT 2026, September 2026 STAT, published October 6, 2026. Figures cover residential activity across ARMLS’s reporting area, not Phoenix city or the Phoenix metropolitan area. ARMLS notes that coverage changes may affect year-over-year comparisons. Based on information from the Arizona Regional Multiple Listing Service for the periods September 1 through September 30, 2025, August 1 through August 31, 2026, and September 1 through September 30, 2026. Open the original ARMLS report.
September 2026 · city/town comparison
How do Phoenix-area housing indicators compare by city?
City-level figures add detail to the broader regional totals. They still do not describe every neighborhood, price range or property type.
Residential summary by City/Town Code. Absorption is shown as reported by ARMLS, not recalculated from active listings or closed sales. Median CDOM means cumulative days on market for sold homes.
On a phone, scroll the table horizontally to compare all measures.
| City | Absorption (months) | Median sold price | Median CDOM (days) | Active listings | Closed sales |
|---|---|---|---|---|---|
| Goodyear | 3.82 | $462,000 | 53 | 692 | 163 |
| Buckeye | 4.37 | $395,000 | 65 | 1,068 | 262 |
| Avondale | 4.71 | $420,000 | 52 | 317 | 66 |
| Surprise | 4.10 | $435,000 | 66 | 1,392 | 268 |
| Peoria | 3.72 | $489,995 | 62 | 962 | 224 |
| Glendale | 4.09 | $405,000 | 60 | 891 | 221 |
| Chandler | 2.90 | $522,450 | 48 | 714 | 220 |
| Mesa | 3.60 | $440,750 | 49 | 2,034 | 502 |
| Gilbert | 3.42 | $579,500 | 48 | 923 | 254 |
Source: ARMLS Flexmls Market Summary for September 2026, generated October 23, 2026 at 12:09 p.m.; City/Town Code and Residential filters. The report requires member login. ARMLS® COPYRIGHT 2026. Based on information from the Arizona Regional Multiple Listing Service for the period September 1 through September 30, 2026.
These are city-level summaries, not buyer’s-market or seller’s-market labels. Conditions may differ by neighborhood, price range and property type.
Where do buyers or sellers have more negotiating power?
There is no single buyer’s or seller’s market across the Valley. Conditions can differ by city, neighborhood, price range and property type. These ARMLS totals cover a wider area, so they cannot show who has more negotiating power for a particular home.
For buyers
Compare available homes and any seller concessions within the same neighborhood, price range and property type. Ask how the home’s condition, location and competing options affect an offer.
For sellers
A regional median is not a valuation for your home. Review recent nearby sales, current competing listings, the property’s condition and showing feedback when setting or adjusting a price.
The ARMLS figures cover a wider reporting area. Changes in coverage may affect year-over-year comparisons.
Source details
Sources and reporting dates
Mortgage-rate averages and housing figures update on different schedules. Check the date and geographic scope for each source.
Weekly U.S. mortgage averages
United States
Monthly ARMLS housing report
ARMLS reporting area
Rate information is general market context, not a quote, loan commitment or financial recommendation. Housing figures retain the source’s date, scope and definitions. Source credit: Freddie Mac PMMS, Consumer Financial Protection Bureau and ARMLS September 2026 STAT.