Phoenix, AZ Housing Market

Phoenix, AZ's median home value is $448K, down 0.6% over the past year. Homes here sell in a median 60 days. Its PropertyIQ Score of 3 sits below the state average of 50, marking a market positioned to lag its state over the next three years.

The Phoenix, AZ metropolitan area represents a distinct segment of AZ's housing landscape. The PropertyIQ Score combines price momentum — how Zillow home values have trended over the past 3 and 12 months — with market-flow signals from Realtor.com that track how fast homes sell and how often sellers cut prices. The result is a single measure of how this market is positioned to outperform or lag its state over the next three years.

Mountain West markets combine outdoor lifestyle appeal with booming tech and remote-work migration. Cities across Colorado, Utah, Arizona, and Nevada have experienced some of the nation's fastest appreciation, though rising interest rates have introduced new dynamics to these previously red-hot markets. Within the Mountain West, Phoenix, AZ's PropertyIQ Score of 3 runs below the Mountain West norm.

Arizona's housing market experienced a dramatic boom-bust-recovery cycle, making it a useful proving ground for PropertyIQ's price-momentum and market-flow signals. The state's population growth from California migration continues to drive demand.

Each month, PropertyIQ updates its score for Phoenix, AZ using four inputs: Zillow ZHVI twelve-month and three-month momentum, Realtor.com median days on market, and the Realtor.com share of listings with price cuts. These four signals are combined into a single 1 to 99 score computed across all metro markets and calibrated so 50 represents the state average, making it a direct read of how this market is positioned to perform relative to its state.

View Phoenix, AZ's complete market profile including historical price trends, score history, and AI-generated analysis. Compare this market against any other US metro to find the best opportunities for your investment strategy.