Southwest Market Report, Q2-2021 (AZ)
Market Activity
Phoenix, AZ
Market Overview
The Phoenix real estate market is trending very strong and looking to continue to grow over the next few months. The market is currently approaching a year-over-year gain of 31.2%, with the potential to keep climbing. However, the demand for housing is so high that the supply of properties available is struggling to keep up.
🡱 28,269
Homes Sold
🡳 $381,000
Avg. Home Price
🡱 $1,351
Median Rent
Statewide Data
🡳 4.7%
Rental Vacancy Rate
🡱 1%
Homeowner Vacancy Rate
🡳 6.73%
State Unemployment Rate
Metro Area Unemployment
Phoenix
6.6%
Tucson
7.4%
Yuma
20.4%
Prescott
6.1%