Post-Pandemic Recovery: Phoenix’s Real Estate Resurgence

Back in 2020, during the early months of the pandemic, Phoenix’s housing market experienced a sharp dip — with sales dropping nearly 27% in April. By May, sales were down dramatically compared to the same month in 2019. But those dips were short-lived.

Fast forward to today: Phoenix home prices have risen significantly, and demand continues to outpace inventory, creating a highly competitive seller’s market.

According to recent MLS data and Zillow reports:

• Median home price in Phoenix (2025): $457,000

• Annual home value growth: Approx. 6.8% year-over-year

• Days on market: Most homes are selling within 15–20 days

• Luxury market surge: Homes over $1M continue to see double-digit demand growth

• Inventory levels: Remain tight, with some price brackets seeing more homes under contract than available

The rebound has been fueled by low interest rates in 2023–2024, a flood of newcomers relocating from more expensive coastal markets, and Arizona’s steady economic climate.

Why People Are Still Moving to Phoenix

Cost of living in Phoenix is still lower than in states like California or New York. Add in 300+ days of sunshine, a diverse job market, and top-tier healthcare and education, and it’s easy to see why Phoenix remains a top choice for remote workers, families, and retirees alike.

Buying a Home in Phoenix in 2025: Tips for Newcomers

The Phoenix’s housing market can be fast-paced and competitive — but don’t let that stop you. With the right preparation, you can land the perfect home.

✔️ Work with a Local Realtor

Partner with an experienced Phoenix real estate agent who understands local trends and neighborhoods. Whether you’re relocating for work, school, or lifestyle, your agent can help you find the best fit for your needs.

✔️ Get Pre-Approved

In a market this hot, pre-approval isn’t optional — it’s essential. A pre-approved mortgage will give you an edge in competitive bidding situations.

✔️ Know Your Priorities

Map out your budget, commute preferences, school district priorities, and lifestyle must-haves. Whether you’re looking in Scottsdale, Gilbert, Peoria, or central Phoenix, each area has its own personality.

✔️ Be Prepared to Act Fast

Many homes are receiving multiple offers within days of hitting the market. If you see something you love, don’t wait.

Final Thoughts on Phoenix’s Housing Market

Phoenix is thriving in 2025 — and so is its real estate market. If you’re relocating to the area, now is the time to get serious about your home search. With the right preparation and a knowledgeable local realtor, you’ll be unpacking in your Arizona dream home before you know it.

Need help planning your move to Phoenix? Request your FREE Phoenix Relocation Guide!