Median Home Listing Price Drops 4.9%
According to the Realtor.com February Monthly Housing Report, sellers are adapting to current market conditions, with 16.8% of homes seeing price reductions—an increase from 14.6% in February of last year. Seller activity also picked up, as newly listed homes rose 4.2% year-over-year, reaching the highest February levels since 2021. Metro Phoenix experienced a 4.9% drop in median listing prices compared to last year, while Tucson saw a 1% decline.
