Phoenix's residential real estate showed mixed results in July 2025. Closed sales rose 1.8% year-to-date, while pending sales dropped sharply, hitting the lowest level since 2007. Median home prices slightly declined to $470,000 but rose 0.4% year-to-date. Inventory increased, offering more choices for buyers. Days on market grew, with some cities like Mesa and Peoria seeing significant increases. Pending sales fell notably across all major metro areas.
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