Inventory growth lifts affordability across Phoenix‑area housing market

The Greater Phoenix housing affordability index rose from 71 to 77, with inventory up 8.3%, allowing 77% of median-income households to afford median-priced homes. Median home prices declined 2% to $480,000, with closed sales steady but pending sales down 17.6%. Inventory increased 20.8% year-over-year. Regional trends vary: Scottsdale prices rose 3.7%, while Phoenix and Buckeye saw price declines. Sales and listings generally decreased across most areas.