Phoenix's December real estate market saw a 16.4% rise in active listings to 3,272, surpassing the national inventory growth. New listings increased by 2.0% to 938. The median listing price dropped 6.3% to $450,000, with 23% of homes experiencing price reductions. Median days on market rose 10.2% to 71, slightly below the national median. These trends created favorable conditions for buyers and a more competitive market for sellers.