Higher mortgage interest rates hitting in the middle of summer and record high home prices have impacted the number of contract signings across the country and in the local market.
Nationally, pending home sales decreased in the West 4.7 percent over last month, and 7.1 percent over the same period last year.
“Home prices are at record highs so houses for sale are sitting on the market longer, and fewer buyers are bidding above the asking price than a year ago, though there are large local market variations,” said National Association of Realtors® Chief Economist Dr. Lawrence Yun.
Locally, the number of homes under contract decreased by 24 percent in our tracking zones when compared to last month. According to data provided by The Crouch Group, listings for 66 homes were either cancelled or expired. Active listings remained the same as last month.
Sam Khater, Freddie Mac’s Chief Economist remained optimistic on the state of the market. “While mortgage rates continue to influence affordability, the housing market is showing signs of adjustment, with listing prices modestly below year-ago levels and for-sale inventory improving from the limited supply seen in recent years,” he said.
Mortgage Rates
National weekly
average rates as
of Aug. 13, 2026:
15-Year
Fixed-rate
5.96%
30-Year
Fixed-rate
6.67%
Source www.freddiemac.com
North Phoenix Monthly Real Estate Snapshot
30-day totals from 7/16/2026 to 8/15/2026 highlighting the following North Phoenix neighborhoods area codes 85083, 85085, 85086 & 85087).
Total Homes Sold
126
Total Active Listings
444
Average Sold Price
$696,771
Total
Homes Sold
Month-Over-Month
Up 5.55%
Total
Active Listings
Month-Over-Month
Up .45%
Pending
Homes Month-
Over-Month
Down -24.13%
Total Combined
Avg.Sale Price
Month-Over-Month
Down -15.15%
Monthly Real Estate Snapshot
30-day totals from 7/16/2026 to 8/15/2026 highlighting the following North Phoenix neighborhoods (area codes 85083, 85085, 85086 & 85087).
| North Phoenix Neighborhood | Active Listings | Homes Under Contract | Homes Sold | Average Days on Market | Average Price/Sq Ft | Average Sold Price |
|---|---|---|---|---|---|---|
| Amber Hills/ Carefree Crossing | 1 | 0 | 1 | 64 | $236 | $950,000 |
| Anthem Country Club | 53 | 14 | 14 | 99 | $300 | $662,200 |
| Anthem Parkside | 68 | 31 | 18 | 79 | $231 | $583,167 |
| Anthem 85087 | 16 | 7 | 5 | 92 | $247 | $639,000 |
| Desert Hills | 14 | 5 | 3 | 86 | $383 | $1,098,333 |
| Fireside at Norterra | 18 | 6 | 10 | 59 | $296 | $607,390 |
| Sonoran Foothills/ Sonoran Commons | 20 | 11 | 11 | 87 | $243 | $612,454 |
| Stetson Hills | 7 | 4 | 3 | 52 | $298 | $602,667 |
| Stetson Valley | 27 | 10 | 5 | 60 | $278 | $823,600 |
| Tramonto | 17 | 6 | 7 | 66 | $248 | $702,500 |
| Union Park at Norterra | 17 | 9 | 7 | 88 | $287 | $735,500 |
Source Real estate data compiled courtesy of Andrea Crouch with The Crouch Group at ExP Realty in phoenix, az. Data retrieved from the MLS for the 7-16-25 to 8-15-26 date range. The information is deemed reliable but may be skewed at time of print.
Andrea Crouch with The Crouch Group of eXp Realty in Phoenix, AZ contributed to this report.
By Valley Vibe Staff Writers
info@valleyvibenews.com
