Phoenix home values fall as high mortgage rates weigh on market
Home values in the Phoenix metropolitan area fell 1.1 percent year over year in September as sales declined and available inventory grew.
FTMQ Real Estate, written by our newsroom0 views
AZ Big Media reported that Phoenix home values declined in September as elevated mortgage rates constrained buyer affordability. According to data from Zillow, the typical home value in the Phoenix metropolitan area fell to $440,821, representing a 1.1 percent decrease from September 2025 and a 0.4 percent drop from August 2026. [1]
Sales activity in the region also slowed significantly during the period. AZ Big Media reported that Phoenix area home sales fell 5.1 percent year over year in September, which exceeded the national sales decline of 2.5 percent. [1]
At the same time, supply in the local market expanded. AZ Big Media noted that the number of homes available for sale in the Phoenix area increased by 4.4 percent compared with September 2025, providing buyers with more options. [1]
In short
- The typical home value in the Phoenix metropolitan area fell to $440,821 in September 2026.
- Phoenix area home sales dropped 5.1 percent year over year, compared to a 2.5 percent decline nationally.
- Available housing inventory in the Phoenix region rose 4.4 percent from September 2025.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]Phoenix home values fall as mortgage rates squeeze buyersAZ Big Media, 19d ago (the report this story comes from)
Background
- [2]Mortgage Matchup Center on Wikipedia
Our newsroom writes these reports with the help of software, from the 2 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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