Greater Phoenix home sales rise as inventory, prices remain steady

Greater Phoenix single-family home sales rose 5.1% year-to-date, with pending sales nearly flat and new listings down 2.8%. Median home prices increased 1% to $485,000, while affordability remained stable. Inventory grew slightly but stayed at a four-month supply. Market activity varied by area: Scottsdale saw a 13.5% sales increase and a 4.1% price rise, while Buckeye and Gilbert had mixed trends. Homes took longer to sell, averaging 78 days on market.