In November 2025, the U.S. housing market experienced a notable decline, with sales of new and existing single-family homes and condos dropping 8.6% compared to the previous year.

This downturn reflects a significant decrease in both buyer and seller activity from the summer peak.

However, Phoenix stood out as one of the few metropolitan areas to buck this trend, recording a 0.6% increase in sales during the same period.

According to data from Phoenix REALTORS®, the region saw a 4.3% rise in closed home sales in November, nearly quadrupling the national rate of 1.2%.

Year-to-date, closed sales in Phoenix have increased by 3.9%, indicating a robust local market.

“Closings typically drop as we head into the holiday season, but this November saw a higher number of closed sales than both the prior year and in 2023,” said Christy Walker, board president of Phoenix REALTORS®.

She attributed this resilience to the surge of new business activity across the region, with companies expanding and hiring, drawing newcomers eager to secure homes as they relocate.

Despite a 10.8% year-over-year decline in new listings, total active inventory in Maricopa County grew by 11.4%, reaching 14,793 properties.

Closings increased by 5.1%, with 3,467 homes sold, while pending sales dropped by 27.6%, totaling 2,317 listings under contract.

Homes stayed on the market for an average of 76 days, up from 64 days a year prior.

Nationally, the median sales price in November reached $409,200, a 1.2% increase from the previous year.

In contrast, Phoenix's median sales price remained steady at $450,000, indicating price stability rather than sharp correction.

Homes in Phoenix took an average of 84 days to sell, with a median of 59 days, reinforcing the importance of pricing and presentation in the current market.

As the housing market continues to evolve, Phoenix's resilience offers a beacon of stability amid national fluctuations.

Potential buyers and sellers are encouraged to stay informed and consult with local real estate professionals to navigate this dynamic landscape.