Published June 16, 2026

May 2026 STATS Report

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Written by Katie Evans

May 2026 STAT Report

  • COMMENTARY by Paridhi Saboo

    May brought a modest improvement in sales activity, with overall closed sales up about 4% year over year despite having one fewer business day than May 2025. Even so, sales volume remains roughly 14% below what is typically seen for this time of year, indicating a market that is improving but still operating below historical norms.

    Active inventory declined about 5% from a year ago, the second month in a row to post a year-over-year decline. Despite the decrease in supply, sellers continued to make meaningful price adjustments to attract buyers. In May, 75% of homes that closed did so after a median price reduction of $25,000 from their original list price, compared with a typical May reduction of about $16,000 over the past 11 years.

    Price reductions by property type:

    • Detached Single Family: 73% closed after a median reduction of $25,000

    • Townhouse/Condo: 84% closed after a median reduction of $24,900

    • Apartment: 85% closed after a median reduction of $22,750

    • Manufactured/Mobile Home: 79% closed after a median reduction of $17,700

    Moreover, new home sales in Maricopa County declined 14% compared to last year, extending the streak of year-over-year declines to 16 months. The $500,000-$700,000 price range experienced the largest drop, down 23%. Meanwhile, the median price gap between new construction and resale homes narrowed to just 7%, well below the historical May average of roughly 30%. This creates opportunities for buyers but also increases competitive pressure on nearby resale sellers.

    Key Takeaway: Buyers are responding to value, not scarcity. Homes that are priced competitively are selling, while builders and resale sellers alike are increasingly competing for the same pool of demand.

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Arizona Real Estate, guide, investor, Living 48 Real Estate, Living 48 Real Estate Team, NAR, Real Estate Changes, real estate investing, Real Estate Investment AZ

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