Phoenix homebuyer interest jumps despite affordability pressures

Phoenix saw a 19.8% increase in engaged home shoppers per listing in Q2 2026, averaging 3.8 shoppers, below the national average of 4.8. Despite strong interest, high mortgage rates and affordability issues limit sales growth. Sun Belt markets like Phoenix have less competition due to increased inventory. Luxury and larger homes attract more buyers, indicating higher-end buyers have more financial flexibility amid economic uncertainty.