What Rising Inventory Means for Buyers and Sellers in Phoenix

August’s housing numbers are in, and the story they tell is all about inventory. Active listings in Phoenix reached 23,307 last month—that’s a 27% increase compared to last year. While it might not sound dramatic at first, more homes on the market can shift the experience for both buyers and sellers in a big way.

Let’s break down what this means:

For Buyers

More homes to choose from means more negotiating power. With 8,577 new listings hitting the market in August (an 18% increase year-over-year), buyers aren’t feeling the same pressure they did last year to rush or overbid. Under contract numbers also rose nearly 12% year-over-year, which shows there are still plenty of active buyers out there.

But the real win? Flexibility. Whether that looks like negotiating for concessions, asking for repairs, or taking advantage of builder incentives (we saw some offering 3.75% rates this week!), buyers are in a stronger position than they’ve been in a while.

For Sellers

The flip side of more inventory is more competition. Homes are still selling, but with buyers having options, pricing and presentation matter more than ever. Sold listings dipped 6% from July and 17% compared to spring. That doesn’t mean homes aren’t moving—but it does mean you can’t assume multiple offers will come flying in on day one.

Think of it this way: the homes that shine are the homes that sell. Whether that’s professional staging, strong photography, or thoughtful updates, presentation gives you the edge.

The Big Picture

When supply grows faster than demand, the market naturally starts to cool. Prices haven’t dropped significantly yet—sold listings were actually up slightly (3%) compared to last year—but we’re already seeing asking prices soften, especially in higher price brackets.

This doesn’t mean a crash. It means balance. A healthier market with more options for buyers, and a nudge for sellers to be strategic.

As we head into fall, the real question is: what does this mean for you? Every neighborhood, price point, and situation is different. If you’re thinking about buying or selling, I’d love to break down what these numbers mean specifically for your home or your search.

→ Subscribe to my weekly newsletter for market updates, local insights, and lifestyle inspiration straight to your inbox.