
Jennifer’s Market Highlights for July 2025
Fox 10 news reports a noticeable cooldown that has home values in Arizona down 2.6% from last year. We (Jennifer M Quinn and company) are seeing high interest rates keeping buyers on the sidelines. Despite the slowdown, fellow realtors say there is an opportunity for buyers and Phoenix rarely sees a buyers’ market with a growing population.
Jennifer Marie Quinn, Realtor, Surprise, AZ.
Even with the cooldown this year, the median sale price of a single-family home in Arizona has gone up more than 50% in the last five years, jumping from $302,000 to more than $470,000 from February 2020 to February 2025, according to real estate company Redfin.
The median home price sold in the U.S. in the first three months of this year was $417,000, per federal data — 33% more than during the same period in 2019, before the housing market went haywire, outpacing inflation and incomes.
Tina Tamboer, senior housing analyst with The Cromford Report, told the Arizona Republic that home prices could drop 3%-5%, but people shouldn’t expect “big, bold movements” anytime soon.
As of Q4 2024, Common Sense Institute US (CSI) estimates that Arizona is facing an immediate housing shortage of 56,616 units – down from the 68,658 estimated for 2023, but given the slowing pace of permitting in the state as well, it would take at least 13 years for Arizona to resolve this deficit.
Axios reported in June:
There are twice as many sellers (about 32,400) as buyers (nearly 16,200) in the Valley.
Where it stands: The one-two punch of still-soaring home prices and mortgage rates is making it hard for buyers, especially first-timers, to find a place they can afford.
What to watch: Historically, when sellers outnumber buyers, prices drop. And in some markets, listings have already started falling.
Jennifer Marie Quinn, Realtor, Surprise, AZ.
“For the Arizona market in particular, the balance of power has shifted in favor of buyers. But there are factors to consider, especially in terms of higher prices than just a few years ago and stubborn interest rates.”
