AriZona Real Estate insider

Data source: ResiClub Analytics (Zillow days‑to‑pending, May 2022 → May 2026)

Phoenix’s housing market has cooled since the breakneck pace of 2022 — but not nearly as dramatically as other major Sun Belt metros. According to ResiClub Analytics, the median days‑to‑pending in Phoenix rose from 8 days in May 2022 to 31 days in May 2026, reflecting a more balanced market shaped by higher mortgage rates, cautious buyers, and increased inventory.

What stands out is how Phoenix continues to outperform the region, even in a slower environment.

While Phoenix moved to a 31‑day median, other Sun Belt markets saw far steeper jumps:

• Miami: 10 → 52 days
• Jacksonville: 5 → 43 days
• Austin: 11 → 41 days
• Tampa: 5 → 34 days

These numbers highlight a clear trend: Phoenix slowed, but it didn’t stall.

The city’s underlying fundamentals remain strong. Inbound migration continues, job growth is steady, and buildable land in core areas is limited — all factors that help keep resale inventory tighter than in markets with more aggressive construction pipelines. Even in 2026, well‑priced homes under $500K in desirable Phoenix ZIP codes often go pending in one to two weeks, far faster than the regional averages.

Outer‑ring areas like Buckeye, Maricopa, and Queen Creek contribute to the higher median, but the overall market remains more competitive than most high‑growth metros across the Sun Belt.

Phoenix’s shift from 8 to 31 days marks a normalization, not a downturn — and compared to its peers, it’s still one of the strongest and most resilient markets in the region.