Published October 25, 2026 in Market Update

Primary market sales rose even with mortgage rates above 7%

Here is the one fact that changes your plan: rates crossed 7% and buyers kept buying. Freddie Mac reported the 30-year fixed rate averaged 7.32% as of October 22, 2026. That is a real cost. But the Real Estate Data Aggregator still counted 1,766 homes sold in the three months ending August 31, 2026. Demand did not stop. It just got more selective.

That 4.4% rise in sales tells you something useful. Sellers who priced carefully found buyers. Sellers who did not had to wait longer or trim their price. The data below shows both sides of that story, ZIP by ZIP.

Rates are up. So is activity.

Realtor.com put the average mortgage rate at 7.40% as of October 22, 2026. Realtor.com also noted that mortgage rates climbed above 7% for the first time since January 2025. That is a real shift for anyone planning a payment. Even so, the National Association of Realtors reported existing-home sales nationally reached 3.99 million units in September 2026. Prices rose too: the National Association of Realtors put existing-home prices up 1.3% in September 2026.

Primary market at a glance

The Real Estate Data Aggregator counted 1,844 homes for sale across the Primary market in the same three months. That is down 5.6% from a year before. Fewer homes for sale, more homes sold: that combination keeps sellers in a reasonable position, even with rates where they are.

Pending sales slipped 2.4% across the Primary market. That is a small, honest dip worth watching. It may mean some buyers paused when rates moved higher. Still, 1,792 pending sales in one quarter is a real level of activity.

Where homes sold fastest

Not every ZIP moved at the same pace. The Real Estate Data Aggregator shows a wide spread in median days on market across the Primary market. Some ZIP codes saw homes go under contract in well under two months. Others took longer.

ZIP 85225 in Chandler led the market at 41 median days, 8 days shorter than the same period last year, per the Real Estate Data Aggregator. ZIP 85044 in Phoenix dropped 18 days shorter than a year before. ZIP 85248 in Chandler sat at the other end at 73 days, though even that was 12 days shorter than last year.

Quick-contract rates: who is moving in two weeks

The share of homes going under contract within two weeks of listing tells you where urgency is highest. The Real Estate Data Aggregator shows big differences across ZIP codes.

ZIP 85225 in Chandler had 37.3% of homes go under contract within two weeks. That is up 9.4 points from a year before, per the Real Estate Data Aggregator. ZIP 85044 in Phoenix jumped 12.5 points to 32.8%. These are the ZIP codes where pricing right matters most, because buyers are deciding fast.

Prices: some up, some down

This is the part that needs a careful read. Some ZIP codes saw prices rise. Others dipped. The Real Estate Data Aggregator shows both, and neither side is the whole story.

ZIP 85296 in Gilbert stood out with a median sale price of $582,000, up 10.4% from a year before. ZIP 85044 in Phoenix dipped 7% to $458,750. A price dip does not always mean trouble. In 85044, homes also sold 18 days faster than last year and 32.8% went under contract within two weeks, both per the Real Estate Data Aggregator.

How close to list price did homes sell?

Across every ZIP code in the Primary market, sellers received between 97.4% and 98.4% of their list price, per the Real Estate Data Aggregator. That is a tight band. It says overpricing is the main risk, not a collapsed market.

Supply: a little tighter in most ZIP codes

Months of supply tells you how long it would take to sell every home currently listed, at today's pace. Under three months generally favors sellers. Above four generally favors buyers. Most ZIP codes in the Primary market sit between those lines right now.

ZIP 85224 in Chandler had just 2.2 months of supply, down 0.7 months from a year before. ZIP 85286 in Chandler dropped a full 1.5 months to 2.5. Both point to less room for buyers to negotiate. ZIP 85249 in Chandler rose to 3.8 months, giving buyers a little more breathing room there.

The ZIP code detail

Here is a full look at each ZIP code for the three months ending August 31, 2026, from the Real Estate Data Aggregator.

What the national picture adds

The National Association of Realtors reported inventory rose to 1.60 million homes nationally in September 2026. More supply nationally can give buyers options elsewhere. But the Primary market's own inventory fell 5.6%, per the Real Estate Data Aggregator. Local and national are moving in different directions.

Realtor.com reported September pending home sales were down 11.3% year over year nationally. The Primary market's pending sales fell a smaller 2.4%, per the Real Estate Data Aggregator. This market held up better than the national trend.

One more thing: these numbers cover whole ZIP codes. One street can read very differently from the ZIP code around it. A block with newer builds, a specific school boundary, or a different lot size can shift the picture. The ZIP code is a starting point, not the final word on your home.