Phoenix Housing Market Update, February 2026: Buyers Gain Leverage

This Phoenix housing market update for February 2026 answers the question I'm hearing every day: is Phoenix a buyer's market right now?

Here's the headline: Phoenix homes are taking about 72 days to sell and supply is at 5.17 months, which is a completely different negotiating environment than the frenzy years. According to Redfin and ARMLS data from January 2026.

In this post, I'll break down what the January numbers actually mean for you, what's changing in North Phoenix, and what I'm seeing in ZIPs 85032 and 85044. You'll also get a simple buyer plan and seller plan you can use right now.

I'm Andrew Texidor, Realtor with Clearly Sold, brokered by HomeSmart. My style is simple, data-driven, and no nonsense. If the numbers say you should wait, I'll tell you. If the numbers say you can win, I'll show you how.

Is Phoenix a buyer's or seller's market right now (February 2026)?

Phoenix is moving toward a balanced-to-buyer-leaning market, with softer prices, longer selling times, and more negotiating room than a year ago.

What the data says:

• Median sale price: $450,000, down 2.2% year over year

• Days on market: 72 days, up from 66 last year

• Supply: 5.17 months

No-nonsense takeaway: when homes take longer to sell and buyers have more choices, sellers have to earn the contract. That usually means better pricing, better terms, or both.

Are home prices in Phoenix rising or falling right now?

Phoenix prices are modestly down year over year, which looks more like normalization than a crash.

According to Redfin, Phoenix home prices in January 2026 were down 2.2% year over year with a $450,000 median sale price.

Here's what I tell clients: a small year-over-year dip is not a headline, it's leverage. The real story is whether a home is priced correctly for its neighborhood and condition, because buyers are no longer forced to overpay to "win."

Quick buyer lens: If you are shopping, you want to focus on homes that have been sitting longer than the neighborhood average. That is where sellers are more open to closing cost help, rate buydowns, repairs, or price adjustments.

How long does it take to sell a home in Phoenix in 2026?

Homes are taking longer to sell in Phoenix, so launch-week execution and pricing precision matter more than ever.

Redfin shows 72 days on market in January 2026, up from 66 days last year.

If you're a homeowner thinking about selling, that does not mean your home has to sit. It means the "list it and they'll come" strategy is not reliable anymore.

What works in this market:

• A price that matches the current buyer pool, not last year's comps

• Strong photography and a clear online presentation

• A launch plan that creates urgency in week one

• Smart negotiation posture, because buyers will ask for something

What is happening with Phoenix inventory and months of supply?

Supply expanded in January, giving buyers more options and reducing the scarcity pressure that drove aggressive bidding.

ARMLS reports 5.17 months of supply and 24,358 total listings in January 2026.

More supply does two things at the same time:

1. Buyers slow down. They stop panic-offering and start comparing.

2. Sellers compete. Not against "the market," but against the two similar homes down the street.

If you're buying, this is where patience pays. If you're selling, this is where you get rewarded for being realistic and prepared.

Are Phoenix sellers cutting prices or offering concessions in 2026?

Yes, concessions are increasingly common on homes that are mispriced or sitting longer than the neighborhood norm.

ARMLS reports a median DOM of 71 in January 2026, and Redfin shows citywide DOM is up year over year. That combo usually brings negotiations back to the table.

You can also see negotiation behavior in ZIP-level stats. Zillow shows in 85032, 60.6% of sales were under list price.

What buyers should ask for (realistically):

• Closing cost help

• A rate buydown credit

• Repairs or repair credit (after inspection)

• A price adjustment if the home has been sitting and you have clean comps

What sellers should hear clearly: overpricing now costs you twice: you lose time and you lose leverage.

Quick Triple Engine Check: the three numbers Phoenix buyers and sellers should remember

If you only remember three stats from this update, make it these:

• $450,000 median sale price (down 2.2% YoY)

• 72 days to sell (up from 66)

• 5.17 months of supply

Those three numbers explain why leverage is shifting, why pricing strategy matters, and why negotiation is back.

What should buyers expect in North Phoenix this month?

North Phoenix remains relatively resilient, but buyers still gain leverage as marketing times stretch and annual pricing cools modestly.

Redfin shows North Phoenix median sale price at $510,000, down 1.2% year over year, with homes selling in around 62 days.

Translation: this area can still be competitive on the right home, but buyers are no longer stuck accepting "take it or leave it" terms.

What I watch closely here:

• Homes that are clean, updated, and priced right still move

• Homes that feel "almost right" sit, and those sellers negotiate

What are home values doing in ZIP 85032 right now?

ZIP 85032 values are modestly lower year over year, creating selective opportunities for buyers who want affordability with central access.

Zillow reports typical home value of $444,576, down 2.3% year over year, with homes going pending in around 28 days.

That pending time is important. It tells us demand is still there, but buyers are value-sensitive.

Buyer move: get your financing lined up so you can move quickly on a well-priced home.

Seller move: if your home is positioned as the best value in its "comp set," you can still sell cleanly without chasing the market.

What are home values doing in ZIP 85044 (Ahwatukee area) right now?

In 85044, values are down year over year and pending times are moderate, favoring buyers who act quickly on well-priced homes.

Zillow shows a typical home value around $471,552 and notes it is down year over year on the page, with homes going pending in around 37 days.

Ahwatukee tends to hold demand because of lifestyle and location, but the 2026 market still rewards smart offers and clean negotiation.

What "winning" looks like here:

• A strong offer on a properly priced home

• A firm but fair request for credits if the home has been sitting

What should Phoenix buyers do next to use today's leverage?

If you're buying in Phoenix right now, your advantage is choice, time, and negotiation, but you still need a clear plan.

Buyer Game Plan (February 2026):

1. Get fully underwritten if possible, not just pre-qualified. It strengthens your offer without overpaying.

2. Target homes that have been sitting longer than the area average. That is where you can negotiate.

3. Ask for terms before price. Credits, repairs, and rate buydowns can change your monthly payment more than a small price reduction.

4. Use data, not vibes. We pull neighborhood-level comps and time-on-market patterns, then craft the offer that fits.

Want the clean version? I'll put together a short list of "high-leverage" homes in your target area and show you what strong offers are actually getting accepted.

What should Phoenix sellers do next to protect price and timeline?

If you're selling in Phoenix in 2026, you can still get results, but you have to lead with strategy, not hope.

Seller Game Plan (February 2026):

1. Price to win the comparison game. You are competing against active listings, not last year's peak.

2. Dominate presentation. Photos, staging where needed, and a clean story online.

3. Make week one count. Strong launch plan, tight showing windows, fast feedback loop.

4. Decide your negotiation lines up front. Are you open to credits? Repairs? Rate buydown help? We plan it, then negotiate from a position of control.

ARMLS shows higher supply and longer market times than the scarcity era. That is why the best listings look easy, even in a slower market: because they are built to win.

How my AI-Certified marketing approach helps you (without the hype)

I use AI-assisted marketing tools to help your listing get in front of the right buyers faster and to keep the transaction moving efficiently. It is not a gimmick, it is a practical edge.

What it looks like in real life:

• Smarter listing copy and ad creative testing, so the message lands with serious buyers

• Faster follow-up and scheduling workflows, so good leads do not go cold

• Better organization of buyer feedback, so we can adjust quickly when the market tells us something

Important: AI does not replace experience. It supports it. I still do the pricing and negotiation work the right way, with real comps, real strategy, and clear communication.

Final Thoughts

Phoenix has not fallen apart. It has adjusted. Prices are modestly down year over year, homes are taking longer to sell, and supply is up, which gives buyers more leverage and forces sellers to be sharper.

If you're thinking about buying or selling in Phoenix, I'll give you straight answers backed by current data, and a plan that fits your timeline.

Ready to make your move? Send me a message with your neighborhood or ZIP code and whether you're buying or selling. I'll reply with a no-pressure, no-nonsense game plan and the numbers that matter for your move.

Contact Andrew Texidor
Realtor and Founder, Clearly Sold
Brokered by HomeSmart
Phone: 623-400-5957
Email: [email protected]
Schedule a Call

FAQ: Phoenix Housing Market (February 2026)

Is now a good time to buy in Phoenix, or should I wait?

If you need to move in 2026 and you find the right home at the right payment, this is a reasonable window because leverage has improved. Homes are taking longer to sell and supply is higher than the frenzy period, which supports negotiation. According to Redfin, Phoenix is averaging about 72 days on market. The key is strategy, not timing a perfect bottom.

How many months of supply is considered a buyer's market in Phoenix?

Months of supply is a simple way to measure how much choice buyers have. ARMLS reports 5.17 months of supply in January 2026. Around this level, Phoenix can feel balanced to buyer-leaning depending on your neighborhood and price point.

Are seller concessions common in Phoenix right now, and what should I ask for?

Concessions are more common when homes sit longer than the neighborhood norm or when pricing is optimistic. With days on market up year over year, buyers have room to ask for closing cost credits, repairs, or rate buydown help. What you can ask for depends on comps and how many other buyers are in play.

Which Phoenix areas are still competitive in 2026?

Some areas stay competitive because they have steady demand and limited comparable inventory. North Phoenix is a good example: Redfin still calls it somewhat competitive, with homes selling in around 62 days. The right home still gets action, but the buyer experience is more normal than it was.

If mortgage rates dip below 6%, what happens to Phoenix competition?

A rate dip tends to pull sidelined buyers back in quickly, especially in popular Phoenix submarkets. Phoenix Agent Magazine notes that brief dips below 6% can trigger more buyer activity. If you are shopping, the move is to be prepared so you can act when the window opens.

Andrew Texidor, founder of Rewarding Heroes and Clearly Sold brokered by HomeSmart, is a certified AI agent.