Published November 1, 2026 in Market Update

Sales rose in the Primary market even with mortgage rates above 7%

By Erik Kelly

Real estate, Scottsdale & Central Phoenix

The number that matters most right now: rates are above 7%, and people are still buying. Freddie Mac put the 30-year fixed rate at 7.24% on October 29, 2026. That is the clearest sign yet that buyers have adjusted to this rate world.

So what does that mean for you? Price and prep still drive results. But demand is real. The Real Estate Data Aggregator counted 1,640 homes sold across the Primary market in the three months ending August 31, 2026. That is up 9.3% from the same three months a year before.

Fewer homes are sitting on the market. The Real Estate Data Aggregator shows inventory across the Primary market fell 4.1% from a year ago. More buyers chasing fewer listings means pricing still matters, but sellers have real footing.

How each ZIP code looks

The story is not the same in every neighborhood. Some ZIP codes saw prices climb. Others dipped a little. Sales volume rose in most areas. Here is the full picture from the Real Estate Data Aggregator for the three months ending August 31, 2026.

Prices rose in five of the twelve ZIP codes. The biggest gain was in 85251 Scottsdale, up 17.8% to $630,000, per the Real Estate Data Aggregator. The biggest dip was in 85045 Phoenix, down 9.6% to $610,000. Not every street moved the same way.

Where homes sold fastest

85044 Phoenix moved fastest at 46 median days, 18 days shorter than a year ago, per the Real Estate Data Aggregator. 85045 Phoenix was close behind at 50 days, down 36 days from a year ago. At the other end, 85012 Phoenix sat at 85 days, though that is 10 days shorter than last year.

How quickly homes went under contract

The share of homes going under contract within two weeks of listing tells you where buyers are moving fast. The Real Estate Data Aggregator tracked this for the three months ending August 31, 2026.

Nearly 1 in 3 homes in 85044 Phoenix went under contract within two weeks, the highest share in the market. 85012 Phoenix was the slowest at 9.1%, and that share fell 7 points from a year ago.

Months of supply: how much room buyers have

Months of supply tells you how long the current pool of homes would last at today's sales pace. Lower means sellers have more leverage. The Real Estate Data Aggregator counted these figures for the three months ending August 31, 2026.

85048 Phoenix had the tightest supply at 2.7 months, down 0.3 months from a year ago. 85012 Phoenix had the most room for buyers at 7.3 months, up 1.8 months from a year ago. A higher number gives buyers more time and more choices.

The national picture adds context

This market is not alone in staying active. The National Association of Realtors reported existing-home sales across the country reached 3.99 million units in September 2026. National inventory rose to 1.60 million homes that same month. National existing-home prices were up 1.3% in September 2026.

Realtor.com noted that mortgage rates climbed above 7% for the first time since January 2025. Even so, deals are closing here and across the country. Buyers have priced in higher rates. Sellers who price well are finding them.

One street can read very differently from the ZIP code around it. The numbers above are a starting point, not the final word on your home. If you want to know where your address sits inside all of this, reach out.