The market is showing mixed but stable signals as we move through early 2026. Price per square foot jumped 3.8% month over month, largely driven by a higher share of luxury closings, while the median price held closer to flat at $447,000. Supply rebounded in January, rising about 10% as previously canceled listings returned, giving buyers more options again. Demand is slightly improved from last year but still measured, with under contract activity up just over 2%. Interest rates are lower than a year ago, yet momentum remains uneven, with stronger activity at the top end and more price pressure in entry and mid range segments. Overall, the market feels steady but sensitive to shifts in supply and buyer confidence as we head toward spring.
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Market Update
Kirsten Snyder 602-505-0860 ocotillorealtyteam@gmail.com Serving Phoenix Valleywide (AZ) since 2003