Phoenix Metro Market Update (as of Monday, June 2, 2025)

The Phoenix housing market remains steady but selective. Last week, closed sales rose by 14.5%, confirming that buyers are still active—when homes are priced and presented well.

Price corrections dropped by 18.1%, suggesting fewer sellers are adjusting their list prices post-launch. This could point to more accurate initial pricing—or sellers choosing to withdraw rather than lower their expectations.

Over 1,100 listings were canceled or expired, reflecting properties the market ultimately rejected due to pricing, condition, or strategy.

While supply dipped slightly, it’s largely holding steady, with active listings down just 1.1% and coming soon listings down 8.4%. Pending sales declined 8.3%, indicating buyers are moving more cautiously as summer kicks in.

In summary: Demand is still present, inventory is stable, and precision remains key. Sellers who price strategically and present their homes well are the ones capturing buyer attention.

Considering a move? Let’s talk about how to position your property, or your offer, for success in today’s market.