November 2025 Rent Check

The November 2025 ARMLS Rental Market Report indicates that Greater Phoenix is continuing its shift toward a more balanced rental environment. New rental listings declined to 2,616, while active rentals increased to 6,207, signaling more available inventory for tenants. Closed rentals totaled 2,084, down month-over-month, and average days on market rose to 53 days, reflecting slower lease velocity. Rental supply varies by price point, with higher-priced rentals ($3,000+) showing the most months of supply, while mid-range rentals remain the most active. Rent prices per square foot have softened slightly across most categories, reinforcing a market where pricing strategy and property condition matter more than urgency. Overall, November’s data favors renters with more choice, while landlords must remain competitive to secure qualified tenants.