Published November 5, 2026 in Market Update

Primary market has more choices, but deals are still moving

By Tanya Rhoades

Real estate, Primary market

The one fact that changes what you should do right now: the Real Estate Data Aggregator counted 3,612 homes for sale across the Primary market in the three months ending August 31, 2026, down 5.4% from a year before. More choices than last year nationally, but locally the shelf is actually a little thinner. That means a well-priced home still has real competition for buyers.

New listings in the Primary market rose 1.9% to 3,389, according to the Real Estate Data Aggregator. So fresh supply is trickling in. But total homes for sale fell 5.4% to 3,612. That tells you homes are still getting absorbed. Buyers are seeing new options, but not a big pile-up of unsold homes.

Nationally, the National Association of Realtors counted 1.60 million homes for sale in September 2026. That is more room for buyers across the country. Still, the Primary market's own count is tighter than that national trend suggests.

How fast are homes moving by ZIP code?

Speed varies a lot across this market. The Real Estate Data Aggregator shows median days on market ranging from 27 days in ZIP 86004 (Flagstaff) to 83 days in ZIP 85251 (Scottsdale) for the three months ending August 31, 2026. Not every home sold fast, but the fastest ZIPs moved quickly.

ZIP 86004 in Flagstaff had a median of just 27 days, 13 days shorter than the same period in 2025, per the Real Estate Data Aggregator. ZIP 85251 in Scottsdale sat at 83 days, 8 days longer than a year ago. Same market, very different stories.

Where are homes going under contract fastest?

The Real Estate Data Aggregator tracks the share of homes that went under contract within two weeks of listing. That number tells you where buyers are moving with urgency.

ZIP 86001 in Flagstaff led at 40.5%, up 9.8 points from a year ago, per the Real Estate Data Aggregator. ZIP 85138 in Maricopa was at the other end at 10.8%, down 2.5 points. Pricing well in a slower ZIP matters even more.

What are prices doing across the market?

Prices moved in both directions across ZIP codes in the three months ending August 31, 2026. Some ZIPs saw real gains. Others dipped. The Real Estate Data Aggregator shows the full range below.

ZIP 85251 in Scottsdale saw the biggest gain: a median sale price of $630,000, up 17.8% from a year ago, per the Real Estate Data Aggregator. ZIP 85210 in Mesa saw the steepest dip, with a median of $325,000, down 16.4%. Prices did not move the same way everywhere.

Months of supply: where is the balance tipping?

Months of supply tells you how long it would take to sell every home currently listed, at the current pace. Below six months generally favors sellers. Above six months gives buyers more room.

ZIP 85224 in Chandler was the tightest at 2.2 months, down 0.7 months from a year ago. ZIP 85016 in Phoenix was the loosest at 7.1 months, up 1.5 months. In ZIP 85016, sellers face real competition from other listings. Pricing well there is not optional.

The national picture adds context

The National Association of Realtors reported that U.S. existing-home sales reached 3.99 million units in September 2026. National inventory reached 1.60 million homes that same month. Nationally, existing-home prices were up 1.3% in September 2026, per the National Association of Realtors.

Freddie Mac put the average 30-year fixed mortgage rate at 7.24% as of October 29, 2026. The 15-year fixed averaged 6.60% the same week. Those rates shape what buyers can afford, and that shapes what sellers can ask.

What this means for your street

The Primary market overall is steady. Sales are nearly flat, down just 0.3% per the Real Estate Data Aggregator. New listings are up a little. But the range across ZIP codes is wide. A home in ZIP 86001 in Flagstaff faces a very different market than one in ZIP 85016 in Phoenix.