Phoenix posted pending sales ↑28.6% yearly, showing buyer activity is improving even as the local market continues adjusting to current affordability realities.
In Phoenix, >half of active listings have taken price cuts, giving prepared buyers clearer negotiation openings as sellers recalibrate expectations for today's market.
The key Phoenix takeaway: sales growth needs context. Elevated inventory, weaker absorption, and seller concessions show activity is being supported by repricing.
Phoenix is still attracting buyers. Demand is improving as sellers adjust expectations, helping restore transactions while the local market works through correction.
For Phoenix, demand alone is not the full signal. Watch whether growth comes from absorption, inventory discipline, pricing power, or concessions locally.
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