Home prices have been a major talking point since the pandemic, when they climbed at a record pace in response to a frenzy of demand. This increase led to a sharp decline in affordability that weighed on buyers and sellers and slowed the housing market to a crawl.
Now, the housing market is in the early stages of a long, gradual reset. Redfin economists predict that affordability will slowly improve this year and beyond as price growth cools and wages rise. But with prices rising more quickly nationally in April, it’s clear that improvement won’t be linear—and that homebuyers and sellers may continue to deal with a difficult market.
So, what’s happening in Phoenix, AZ in 2026? Are home prices going up or down? Redfin Real Estate analyzed the city’s median sale prices over the past month, year, and six years to find out. All data represents a monthly median.
Are house prices going up in Phoenix, AZ?
- Median sale price: $458,724
- Year-over-year change: +0.6%
- Month-over-month change: -2.4%
- April 2019 median sale price: $274,000
- % change from 2019: +67.4%
Are house prices going up nationwide?
- Median sale price: $396,173
- Year-over-year change: +2.4%
- Month-over-month change: +1.6%
- April 2019 median sale price: $255,000
- % change from 2019: +55.4%
This story was produced by Redfin Real Estate and reviewed and distributed by Stacker.
