June 2026 Market Summary

By: Lorraine Ryall

Associate Broker with KOR Properties

From the Cromford Report

The Greater Phoenix Area and Mesa

There is good news for Mesa, with sold listings in June. While they were down slightly from last month -2.6% from they were up 14.8% from June 2025

Buyer demand is up despite higher mortgage rates as listings under contract are up 5.1%, and closed sales are up 7.6%. This year’s buyer’s market, while not ideal, is an improvement over last year's. There is evidence of pent-up demand that is often revealed once mortgage rates push below 6.5% and increases when they're closer to 6.0%.

However, Greater Phoenix is now in its summer season. This comes with hotter weather and a few holiday speed bumps starting with Memorial Day week. Whenever there is a 4-day work week, buyer contract activity takes a dip, and this Memorial Day was no different, dropping 21% over the course of 2 weeks. Then, just as activity begins to recover, the market encounters the Fourth of July holiday week, followed by Labor Day.

The median sales price has had very little change over last month or the same time last year