April 2026
Sales Market
Active Listings: 4,196 (-4.1% YoY)
→ Inventory continues to tighten compared to last year, signaling a healthier supply environment after the elevated inventory conditions seen throughout much of 2025.
Median Sold $/SF: $283.57 (+2.2% YoY)
→ Home prices have officially turned positive year-over-year, a strong signal that Phoenix’s sales market is regaining pricing momentum.
Average Days on Market: 48 (-5.9% YoY)
→ Homes are selling faster than last year, indicating stronger buyer activity and improving market confidence.
30-Year Mortgage Rate: 6.35%
→ Mortgage rates improved from March’s spike, helping provide buyers with a modest affordability boost.
Rental Market
Active Listings: 1,398 (-4.8% YoY)
→ Rental inventory remains below last year’s levels, continuing the tightening trend that has developed this spring.
Median Rented $/SF: $1.47 (-2.6% YoY)
→ Rental pricing remains slightly below last year, though the pace of decline has moderated significantly.
Median Days on Market: 33 (+4.7% YoY)
→ Rentals are taking only slightly longer to lease than last year, suggesting relatively healthy renter demand despite softer pricing.
Key Takeaways
- Sales inventory continues to tighten, reducing buyer competition from excess supply
- Home prices have turned positive year-over-year, a major improvement from earlier 2026 softness
- Faster selling timelines point to stronger buyer demand
- Rental inventory continues tightening, creating a healthier supply environment
- Rental pricing remains slightly soft, but conditions appear stabilizing
- Lower mortgage rates compared to March may continue supporting spring momentum
Overall
Phoenix’s April market is showing some of the strongest improvement signals we’ve seen in months. The sales market has clearly strengthened, with tighter inventory, rising home prices, and faster selling timelines all pointing toward renewed buyer confidence. The rental market is also becoming healthier, with tighter supply and relatively stable leasing activity, though rents remain slightly below last year’s levels. Overall, Phoenix appears to be shifting firmly into a more balanced—and increasingly competitive—spring market.