Phoenix and Tucson housing markets shift toward buyers in third quarter

The Phoenix and Tucson housing markets are shifting toward buyers, according to a report from Realtor.com cited by AZ Big Media. Both the Phoenix-Mesa-Chandler and Tucson metropolitan areas were classified as balanced markets moving in buyers' favor in the Realtor.com Market Clock report for the third quarter of 2026. Buyers in Arizona are gaining negotiating power, although higher mortgage rates continue to create affordability challenges. [1]

AZ Big Media reported that both Arizona markets received a reading of 4 o'clock on the Market Clock system. This rating places the two regions in the late balanced, loosening category. Under these conditions, neither buyers nor sellers hold a decisive advantage, but general market conditions are increasingly favoring buyers. [1]

Phoenix is the capital of Arizona and the fifth-most populous city in the United States, anchored by a metropolitan area with an estimated 5.19 million residents. Tucson is the second-most populous city in the state, with an estimated metropolitan statistical area population of 1.08 million residents. Both cities form key economic centers within the Arizona Sun Corridor. [3][4]

The local shift matches broader national trends where conditions are tilting toward purchasers. As FTMQ Real Estate reported earlier, national home sellers outnumbered buyers by 63 percent in September, with a growing share of sellers prioritizing deal completion timelines over profit margins as economic conditions adjust. [5]