Phoenix housing market sees closings up, contracts down amid mixed signals

Greater Phoenix's single-family home closed sales rose 4.7% year over year in April, outperforming the national decline. However, pending sales dropped 31.5%, and new listings fell 12.1%, indicating potential future challenges. Inventory increased 2%, with homes on the market longer. Median home prices rose slightly by 1.6%, while affordability remained steady. City-specific trends varied, with Scottsdale and Peoria seeing price and sales increases, while Goodyear and Buckeye showed mixed results.