Phoenix Arizona Real Estate Market Update: Home Prices, Inventory & Sales | August 31, 2026
Updated: Sep 1
The Phoenix Housing Market Luxury Segment continues it’s upward trend and thanks to the Fed's Jackson Hole Speech the Bond Markets sent Mortgage Interest Rates to their highest in 3 weeks.
The Average Conventional Mortgage Rate is now 6.81%.
What else is going on? Let’s get into it and take a closer look at the Greater Phoenix Real Estate Market.
Watch the Video for the Stats on Home Prices, Inventory & Sales
Let’s go deeper…
The Phoenix Luxury Segment is not impacted by interest rates like the Normal Market is.
As we go up in price a higher percentage of the transactions are Cash Sales.
As we go down in price more are financed.
For example
$2M and Up - 46% of transactions are Cash Sales
$1M to $2M - 31% are Cash
Under $1M - 20% are Cash
90% of our real estate market in Phoenix, Arizona are sales Under $1M AND 80% of that is Financed. When Rates are pushing 7% that takes a lot of Demand out of the market.
Over $2M makes up just 2.8% of our total sales. In this K Shaped Economy and Real Estate Market the 2 Million Dollar+ Luxury Market just isn't impacted by rates.
Bottomline unless you’re in the luxury segment Buyers have the upper hand right now.
That's it for this week's market update.
When it's time to make your next move…I’d love the opportunity to be your real estate agent.
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