September 2025 Phoenix 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 in Phoenix this year? Many people assume that when more homes hit the market, sales slow down. But the numbers from the past 30 days tell a different story. Let me walk you through what’s really happening in the market and how the latest trends can work for you.

To start with, here’s how this year compares to the same time last year:

• Active listings: 26,736 homes on the market now, up from 20,950 last year. A 27% increase.
• Homes under contract: 7,492 this year versus 6,998 last year. A 7% increase.
• Homes sold: 6,002 this year compared to 5,773 last year. A 3.9% increase.
• Month supply of inventory: 3.9 months this year versus 3.2 months last year. A 21.8% increase.

Inventory fuels activity. At first glance, a 27% rise in inventory might look like the market is slowing down. But the data tells a different story: sales are actually up. More homes available means more buyers are entering the market.

Sellers see opportunities too; when they find a home they want, they list their own to make the move happen. When inventory is too tight, that chain reaction stalls. As supply moves closer to balance, the market becomes more active.

Lower rates could fuel stronger demand. The next factor to watch is interest rates. If the Fed cuts rates this month and mortgage rates dip, it could bring an even bigger wave of buyers into the market in the next 30 to 60 days.

For now, one thing is clear: this is one of the strongest markets in years. Rising inventory isn’t a setback; it’s the spark driving more sales. If you’re thinking about buying or selling, call (602) 738-9943 or email jason@thepenroseteam.com. I’ll help you get your home sold or find the right place to buy.