Published October 11, 2026 in Market Update

Inventory is still below national supply, even with more new listings in Primary market

Here is the one number that changes what you should do right now. The National Association of Realtors puts national supply at 4.9 months. Parts of Primary market sit as low as 2.2 months. That gap is the whole story for sellers and buyers alike.

These numbers cover the three months ending August 31, 2026. Every figure below comes from that period.

More new listings, but fewer homes on the market

The Real Estate Data Aggregator counted 1,970 new listings across Primary market, up 2.6% from a year before. More sellers are listing. That is real progress for buyers.

But total homes for sale fell. The Real Estate Data Aggregator counted 1,844 homes for sale, down 5.6% from the same months of 2025. New listings are coming in, and they are selling before they stack up.

How Primary market compares with the nation

The National Association of Realtors reported national supply at 4.9 months, the highest level in over ten years. Most of Primary market is well below that. The tightest ZIP code, 85224, sits at just 2.2 months.

For sellers, that means less competition than many markets across the country. For buyers, options improved a little, but the tightest parts of Primary market can still move fast.

Rates add pressure for buyers

Freddie Mac put the average 30-year fixed rate at 7.40% as of October 8, 2026. That is a real cost on top of already tight supply.

Freddie Mac also put the 15-year fixed rate at 6.73% as of October 8, 2026. Buyers who can shorten their term get a meaningful break on rate.

Which ZIP codes moved fastest

Speed tells you where demand is strongest. In 85225, the Real Estate Data Aggregator found 37.3% of homes went under contract within two weeks of listing. In 85208, that share was 34.8%. In 85044, it was 32.8%.

Not every home sold fast. In 85298, just 17.6% went under contract in the first two weeks. In 85297, that share was 18.2%. Pricing and condition still matter everywhere.

Prices: some up, some down

Not every ZIP saw prices rise. That is an honest admission worth making. In 85296, the Real Estate Data Aggregator found the median sale price at $582,000, up 10.4% from a year before. In 85286, the median was $580,000, down 6.5%.

In 85298, the median was $711,000, down 0.5%. In 85295, it was $564,900, up 1.1%. Small moves in most places, one big jump in 85296.

Sales volume picked up overall

The Real Estate Data Aggregator counted 1,766 homes sold across Primary market, up 4.4% from the same months of 2025. More homes closed than a year ago. That is a steady, if modest, gain.

Pending sales tell the next chapter. The Real Estate Data Aggregator counted 1,792 pending sales, down 2.4% from a year before. Demand is still there, just slightly softer going forward.

One street can read very differently from the whole ZIP code. The numbers above are averages. Your block, your floor plan and your price point all shift the picture.