March 2026 Arizona Housing Market Trends for Buyers and Sellers

By Jason Penrose

Jason has been licensed since 1999, and is currently one of the top 20 agents in Arizona for homes sold.

Are you thinking about buying or selling a home this spring? The market is showing interesting trends that could influence your decision. Whether you’re ready to make a move or just exploring your options, it’s important to understand the current state of the real estate market.

Let’s take a look at the key numbers and factors that are shaping the market right now to help you make an informed decision.

What’s happening in the market? In the past 30 days, we’ve seen notable changes in the real estate market. More homes are being listed, pending sales are on the rise, and homes are still selling at a steady pace. These shifts indicate a competitive market where both buyers and sellers are actively engaged. Here’s a quick breakdown of the key numbers:

● Active inventory. 29,441 homes are currently on the market, up from 27,903 homes last year, which is a 5.4% increase in available homes compared to last year.

● Pending sales. There are 9,384 homes pending sale, compared to 8,459 homes last year, a 10.9% increase, showing that homes are moving quickly.

● Homes Sold. 6,305 homes have sold so far this year, compared to 6,197 homes last year, marking a 1.7% increase in homes sold.

● Month’s supply of inventory. We currently have 4 months of inventory, up slightly from 3.9 months last year, just a 2.5% increase. Although the supply is a bit higher, it’s still a competitive market.

While there are a few more homes for sale this year, the market remains competitive with more buyers actively making offers.

What does this mean for buyers? The increase in active inventory means there are more homes to choose from, but the market is still relatively tight. Homes are selling quickly, so it’s important to act fast when you find a property that fits your needs.

With more pending homes for sale, buyers are actively competing for listings, which means you’ll need to be prepared to make offers quickly.

What does this mean for sellers? Sellers will benefit from a market with high demand. Homes are moving quickly, with more pending sales compared to last year. With inventory still somewhat limited, homes are selling faster, making it a great time to list your property.

Additionally, the increase in buyer activity means there’s a real opportunity to sell at a competitive price.

Interest rates are dropping. One of the biggest factors impacting today’s market is the drop in interest rates. FHA and VA loan rates have dropped below 6% nationally, which is fantastic news for buyers looking to lock in low rates.

For conventional loans, rates are in the low 6% range, with some banks even offering rates in the high 5% range. This drop in rates is encouraging more buyers to enter the market, and sellers are motivated to list their homes with more favorable lending options available.

If you’re thinking about buying or selling a home, or if you know someone who is, now is a great time to get started. Feel free to reach out to me at (602) 738-9943. Let’s work together to help you achieve your real estate goals this spring!