Phoenix FHA Loan Rates, Closing Costs & Stats

PHOENIX-MESA-CHANDLER, AZ

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Phoenix's 269 lenders originated 18,639 FHA loans during 2022. The total origination value was $5,973,695,000, with an average FHA loan value of $320,494.

Phoenix FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Phoenix averaged 6.11% for the week of 2024-02-16, compared to the national average (all FHA variants) of 6.611% for the same period.

Phoenix's average FHA mortgage closing costs are $8,532.

The average rate for the prior week (2024-02-09) was 6.22% and one month ago for the week of 2024-01-12, the average rate was 5.86%.

The average rate one year ago was 5.71%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.17%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Phoenix FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Phoenix level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 1,504 4.63% $11,873
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,133 5.18% $12,829
QUICKEN LOANS, LLC 946 4.39% $12,885
LOANDEPOT.COM, LLC 812 4.74% $12,859
DHI MORTGAGE COMPANY, LTD. 512 4.48% $11,411
NOVA FINANCIAL & INVESTMENT CORPORATION 468 4.87% $7,080
Amerifirst Financial, Inc. 403 5.08% $10,918
V.I.P. MORTGAGE, INC. 328 5.23% $13,803
FREEDOM MORTGAGE CORPORATION 303 4.50% $12,122
ACADEMY MORTGAGE CORPORATION 295 5.22% $14,141
CROSSCOUNTRY MORTGAGE, LLC 287 5.09% $13,484
Mr. Cooper ( Nationstar Mortgage ) 256 4.28% $14,915
HOME POINT FINANCIAL CORPORATION 241 4.10% $11,922
PENNYMAC LOAN SERVICES, LLC 237 4.27% $12,486
HOMEOWNERS FINANCIAL GROUP USA, LLC 219 5.00% $13,405
Paramount Residential Mortgage Group, Inc. 218 4.89% $12,195
CARDINAL FINANCIAL 215 4.72% $12,839
CALIBER HOME LOANS, INC. 209 4.43% $11,269
GENEVA FINANCIAL, LLC 207 5.49% $15,744
SECURITYNATIONAL MORTGAGE COMPANY 186 5.48% $16,078
GUILD MORTGAGE COMPANY 168 5.17% $13,902
NFM, INC. 168 5.15% $14,106
LAKEVIEW LOAN SERVICING, LLC 163 3.84% $7,906
Carrington Mortgage Services, LLC 162 4.88% $13,733
INSPIRE HOME LOANS INC. 156 5.00% $11,782
HOMEAMERICAN MORTGAGE CORPORATION 154 4.32% $7,130
BROKER SOLUTIONS, INC. 151 4.85% $12,808
FINANCE OF AMERICA MORTGAGE LLC 149 4.61% $12,935
AMERISAVE MORTGAGE CORPORATION 143 4.40% $14,692
EAGLE HOME MORTGAGE, LLC 142 4.78% $13,404
MORIA DEVELOPMENT, INC. 130 5.20% $15,162
Waterstone Mortgage Corporation 123 4.65% $13,434
AMERICAN PACIFIC MORTGAGE CORPORATION 121 5.11% $15,211
PULTE MORTGAGE LLC 116 4.61% $7,087
KBHS HOME LOANS, LLC 113 4.72% $12,721
PRIMELENDING, A PLAINSCAPITAL COMPANY 110 5.10% $13,523
GUARANTEED RATE, INC. 103 4.82% $12,366
Flagstar Bank, FSB 100 4.52% $11,214
Equity Prime Mortgage LLC 91 5.51% $13,605
NEW WEST LENDING, INC. 91 4.67% $12,178
Lakeview Community Capital, LLC 91 3.76% $8,257
CMG MORTGAGE, INC. 91 4.76% $12,899
South Pacific Financial Corporation 90 4.63% $15,427
VELOCIO MORTGAGE L.L.C. 86 5.13% $12,888
NEWREZ LLC 85 4.50% $11,121
BAY EQUITY LLC 84 4.85% $14,202
LHM FINANCIAL CORPORATION 83 4.73% $11,343
PRIMARY RESIDENTIAL MORTGAGE, INC. 79 5.01% $12,916
SUN WEST MORTGAGE COMPANY, INC. 76 5.07% $12,374
LOANPAL, LLC 73 4.16% $16,313
ON Q FINANCIAL, INC. 71 5.03% $12,170
Neighborhood Loans, Inc. 67 5.22% $14,356
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 67 4.91% $11,656
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 64 4.80% $12,607
Gateway First Bank 62 5.13% $10,016
Wallick & Volk, Inc. 61 4.96% $12,874
MOVEMENT MORTGAGE, LLC 52 5.26% $13,606
GUARANTEED RATE AFFINITY, LLC 49 4.95% $12,558
ML Mortgage Corp. 49 5.22% $13,938
Nations Lending Corporation 47 5.52% $13,519
AMERICAN FINANCING CORPORATION 47 4.48% $10,911
HOMEBRIDGE FINANCIAL SERVICES, INC. 47 4.53% $12,443
TOP FLITE FINANCIAL, INC. 46 5.48% $20,028
Sunflower Bank 44 4.69% $11,152
LEADERONE FINANCIAL CORPORATION 40 4.92% $12,734
PLANET HOME LENDING, LLC 40 3.75% $10,583
VILLAGE CAPITAL MORTGAGE 39 3.92% $9,196
JPMorgan Chase Bank 38 5.17% $8,146
SUMMIT FUNDING, INC. 36 5.05% $15,515
STARBOARD FINANCIAL MANAGEMENT, LLC 36 5.08% $12,792
ARK-LA-TEX FINANCIAL SERVICES, LLC. 34 4.57% $12,126
First Option Mortgage, LLC 34 5.16% $15,159
SWBC MORTGAGE CORPORATION 34 5.33% $10,672
PLAZA HOME MORTGAGE, INC. 34 4.82% $13,780
NATIONS DIRECT MORTGAGE, LLC 31 4.82% $13,012
MUTUAL OF OMAHA MORTGAGE, INC. 30 4.91% $13,708
ENVOY MORTGAGE, LTD 29 5.30% $13,690
CITYWIDE HOME LOANS, LLC 29 4.85% $13,633
Lend Smart Mortgage, LLC 29 5.08% $12,973
SUBURBAN MORTGAGE, INC. 29 4.40% $10,795
AMERICAN FINANCIAL RESOURCES, INC. 28 5.72% $11,657
BROOKHOLLOW MORTGAGE SERVICES, LTD 28 5.04% $11,895
Bell Bank 28 4.76% $12,985
CHERRY CREEK MORTGAGE, LLC 28 5.04% $4,955
TOWNE MORTGAGE COMPANY 28 4.60% $12,140
The Federal Savings Bank 28 5.01% $18,241
Plains Commerce Bank 28 5.43% $13,917
PREMIER LENDING, INC. 27 5.79% $13,143
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 27 4.95% $12,022
MICHIGAN MUTUAL, INC. 27 5.11% $13,549
DIRECTORS MORTGAGE, INC. 27 5.43% $13,943
CASTLE & COOKE MORTGAGE, LLC 26 4.98% $14,978
PACIFIC RESIDENTIAL MORTGAGE, LLC 25 4.91% $14,392
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 25 5.31% $12,832
RESIDENTIAL BANCORP 23 4.81% $12,613
LADERA LENDING, INC. 22 4.64% $14,733
OCMBC, INC. 22 5.77% $15,940
CALCON MUTUAL MORTGAGE LLC 20 5.94% $18,423
INTERCAP LENDING INC. 20 5.03% $14,050
SUN AMERICAN MORTGAGE COMPANY 20 5.29% $11,535
MATTAMY HOME FUNDING, LLC 20 4.11% $15,627
Hometown Lenders, Inc. 20 4.79% $12,155
S1L, Inc. 19 5.22% $13,057
HOMESIDE FINANCIAL, LLC 19 4.25% $10,296
EVERETT FINANCIAL, INC. 18 4.77% $7,443
FBC MORTGAGE, LLC 18 4.48% $13,620
AXIA FINANCIAL, LLC 18 4.67% $12,009
VERITAS FUNDING, LLC 18 4.76% $17,267
MID AMERICA MORTGAGE, INC. 17 5.04% $4,850
MORTGAGE SOLUTIONS OF COLORADO, LLC 17 4.96% $13,602
Loan Simple, Inc. 17 5.06% $12,638
SUNSTREET MORTGAGE, LLC 15 4.55% $10,490
Century Mortgage Company DBA Century Lending Company 15 4.88% $11,420
NETWORK CAPITAL FUNDING CORPORATION 14 4.56% $12,769
Franklin Loan Corporation 13 5.26% $14,466
First Guaranty Mortgage Corporation 13 3.53% $11,341
AmeriHome Mortgage Company, LLC 13 4.96% $13,138
INTERLINC MORTGAGE SERVICES, LLC 12 4.81% $14,303
M&T Bank 11 3.94% $9,467
First National Bank Texas 11 4.74% $12,780
LOANLEADERS OF AMERICA, INC. 11 5.20% $18,500
Austin Capital Bank SSB 10 4.75% $15,131
DATA MORTGAGE, INC. 10 5.46% $14,410
UNION HOME MORTGAGE CORP. 10 3.74% $11,414
Bank of America 9 4.57% $11,817
SOVEREIGN LENDING GROUP INCORPORATED 9 3.88% $12,525
Commerce Home Mortgage, Inc. 9 4.04% $16,651
IDEAL HOME LOANS LLC 9 4.42% $12,929
AMCAP MORTGAGE, LTD. 9 5.47% $14,941
Utah Mortgage Loan Corporation 9 4.14% $9,128
KELLER MORTGAGE, LLC 9 4.96% $12,627
ZILLOW HOME LOANS, LLC 9 4.76% $13,427
Shea Mortgage Inc. 9 5.25% $9,239
Wyndham Capital Mortgage, Inc. 8 4.77% $12,217
CORNERSTONE HOME LENDING, INC. 8 4.50% $13,961
AMERIFIRST FINANCIAL CORPORATION 8 5.36% $13,742
Financial Funding Solutions, Inc. 8 5.14% $12,322
iCore Lending, Inc. 7 5.32% $13,914
TruHome Solutions, LLC 7 4.96% $9,918
FIRST CENTENNIAL MORTGAGE CORPORATION 7 4.89% $11,098
Sierra Pacific Mortgage Company, Inc. 7 5.00% $12,970
CITY FIRST MORTGAGE SERVICES, L.L.C. 7 5.45% $16,018
ARIZONA 7 5.63% $11,261
EMBRACE HOME LOANS, INC. 7 4.27% $11,172
DIRECT MORTGAGE, CORP. 7 3.79% $18,147
Mortgage Research Center, LLC 7 5.25% $7,791
LAND HOME FINANCIAL SERVICES, INC. 6 4.48% $13,929
Wells Fargo Bank 6 4.81% $10,361
FirstBank 6 4.73% $10,245
U.S. Bank 6 4.19% $9,793
Golden Empire Mortgage, Inc. 6 5.54% $15,378
GoPrime Mortgage, Inc. 6 5.17% $15,059
Texana Bank 6 3.56% $11,788
CHURCHILL MORTGAGE CORPORATION 6 5.17% $11,782
ISERVE RESIDENTIAL LENDING, LLC 6 5.35% $12,455
CANOPY MORTGAGE, LLC 6 4.10% $13,725
BMO Harris Bank 6 5.71% $12,889
Barrington Bank & Trust Company, N.A. 6 4.73% $12,213
MOUNTAIN WEST FINANCIAL, INC. 6 5.06% $14,059
Strong Home Mortgage, LLC 6 4.02% $9,719
NEST HOME LENDING, LLC 6 5.56% $16,123
Prosperity Home Mortgage, LLC 6 5.64% $11,305
PINNACLE LENDING GROUP, INC. 6 5.62% $14,756
ALAMEDA MORTGAGE CORPORATION 5 5.50% $18,130
LIBERTY HOME MORTGAGE CORPORATION 5 5.38% $16,141
LEGEND LENDING CORPORATION 5 6.30% $10,625
BOKF 5 4.60% $11,993
Watermark Capital, Inc. 5 3.43% $12,013
NATIONS RELIABLE LENDING, LLC 5 5.25% $17,310
ALTITUDE FINANCIAL CORPORATION 5 4.78% $8,563
ARC HOME LLC 5 3.65% $12,172
Pacific Lending LLC 5 5.13% $11,282
TJC Mortgage, Inc. 5 4.13% $10,623
EMM LOANS LLC 4 5.22% $14,187
Goldwater Bank, N.A. 4 5.56% $12,387
INTELLILOAN, INC. 4 5.12% $13,124
BECKAM FUNDING CORP. 4 4.59% $14,783
SFMC, LP 4 5.34% $12,881
DRAPER AND KRAMER MORTGAGE CORP. 4 4.47% $10,763
Hometown Equity Mortgage, LLC 4 5.94% $16,302
RESIDENTIAL WHOLESALE MORTGAGE, INC. 4 5.47% $10,312
Citizens Bank 4 3.16% $7,837
Northpointe Bank 4 4.78% $18,282
First Home Bank 4 3.75% $13,117
AMERICA FIRST 4 4.16% $11,742
NP, Inc. 4 3.56% $12,406
STEARNS LENDING, LLC 3 2.75% $8,416
RELIANCE FIRST CAPITAL, LLC 3 5.33% $11,587
ROYAL UNITED MORTGAGE LLC 3 4.33% $13,958
HUNT MORTGAGE CORPORATION 3 5.21% $12,068
MLD MORTGAGE INC. 3 5.50% $15,640
SOUTHWEST STAGE FUNDING, LLC 3 4.96% $10,458
Willamette Valley Bank 3 3.54% $10,868
MOUNTAIN AMERICA 3 3.42% $9,063
Bank of England 3 4.54% $17,240
JMJ FINANCIAL GROUP 3 5.33% $15,354
PNC Bank 2 4.94% $6,428
AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 4.75% $10,776
BAYSHORE MORTGAGE FUNDING, LLC 2 6.19% $14,691
BELEM SERVICING LLC 2 2.25% $12,401
BEST CAPITAL FUNDING 2 3.88% $9,233
BETTER MORTGAGE CORPORATION 2 4.06% $11,799
CLEARPATH LENDING 2 3.25% $5,893
CONTOUR MORTGAGE CORPORATION 2 5.69% $14,618
Cornerstone First Mortgage, Inc 2 4.69% $14,451
First Internet Bank of Indiana 2 5.25% $17,148
First Savings Bank 2 3.88% $14,233
HomeStreet Bank 2 4.50% $8,354
LENOX FINANCIAL MORTGAGE CORPORATION 2 5.13% $12,646
Magnolia Bank 2 5.00% $14,585
MANN FINANCIAL INC. 2 7.13% $11,480
NBKC BANK 2 4.44% $6,933
North American Savings Bank, F.S.B. 2 4.81% $11,573
PANORAMA MORTGAGE GROUP, LLC 2 4.25% $15,290
Peoples Bank 2 4.00% $12,484
PREMIA MORTGAGE, LLC 2 6.38% $11,191
Princeton Mortgage Corporation 2 3.75% $11,674
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 5.00% $8,610
TBI MORTGAGE COMPANY 2 4.44% $12,039
THRIVE MORTGAGE, LLC 2 6.25% $10,226
PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.50% $11,937
Servion, Inc. 1 3.88% $11,680
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.13% $13,357
PHH Mortgage Corporation 1 6.13% $18,615
PENTAGON FEDERAL CREDIT UNION 1 4.75% $13,101
OPEN MORTGAGE, LLC 1 3.63% $11,357
NuVision Federal Credit Union 1 4.25% $9,954
Notre Dame Federal Credit Union Corporation 1 5.25% $7,205
NEW DAY FINANCIAL, LLC 1 5.49% $7,571
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.50% $21,221
MY MOVE MORTGAGE, LLC 1 5.13% $10,686
Mutual Federal Bank 1 4.50% $11,001
SUCCESS MORTGAGE PARTNERS, INC. 1 5.00% $19,713
Midwest Community Bank 1 3.50% $6,852
MidFirst Bank 1 2.88% $11,554
KINECTA 1 5.13% $10,891
JAMES B. NUTTER & COMPANY 1 4.50% $3,135
HOMESPIRE MORTGAGE CORPORATION 1 3.88% $12,743
Home Loan Investment Bank, F.S.B. 1 5.25% $13,676
AHL FUNDING 1 4.38% $12,636
GSF Mortgage Corporation 1 5.00% $10,999
THE ANDERSON FINANCIAL GROUP, INC. 1 2.75% $9,737
The Central Trust Bank 1 4.25% $10,583
GREENSTATE CREDIT UNION 1 6.63% $15,114
The Home Loan Expert LLC 1 3.75% $11,430
Zions Bank 1 6.63% $11,872
Flanagan State Bank 1 5.63% $12,151
First Western Trust Bank 1 6.13% $14,187
FIRST STATE MORTGAGE SERVICES, LLC 1 4.63% $11,631
Town Square Mortgage & Investments, Inc. 1 4.88% $13,896
Fidelity Bank 1 5.13% $20,449
Evolve Bank & Trust 1 6.25% $17,439
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.38% $11,459
UNIVERSAL LENDING CORPORATION 1 4.75% $10,908
Enterprise Bank & Trust 1 3.75% $11,163
COUNTRYPLACE MORTGAGE, LTD. 1 4.13% $15,188
VAN DYK MORTGAGE CORPORATION 1 5.00% $8,121
Community First National Bank 1 5.25% $16,253
Colonial Savings, F.A. 1 5.38% $16,144
CENTENNIAL LENDING, LLC 1 3.50% $15,453
Centennial Bank 1 3.38% $9,906
AUGUSTA FINANCIAL, INC. 1 6.50% $14,449
Arvest Bank 1 5.38% $11,233
Armed Forces Bank 1 5.13% $11,998
AmRes Corporation 1 5.63% $21,493
ALLIED MORTGAGE GROUP, INC. 1 4.38% $20,933
Alaska USA Federal Credit Union 1 5.63% $7,722
RANLIFE, INC. 1 3.50% $15,036
Prime Choice Funding Inc. 1 4.75% $10,505

The top Phoenix FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 1,504 FHA loans originated. Their average total fees are $11,873, which is $956 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Phoenix FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($4,850), CHERRY CREEK MORTGAGE, LLC ($4,955), NOVA FINANCIAL & INVESTMENT CORPORATION ($7,080), PULTE MORTGAGE LLC ($7,087) and HOMEAMERICAN MORTGAGE CORPORATION ($7,130).

The lowest rate Phoenix FHA lenders (with over 10 loans originated) are First Guaranty Mortgage Corporation (3.53%), UNION HOME MORTGAGE CORP. (3.74%), PLANET HOME LENDING, LLC (3.75%), Lakeview Community Capital, LLC (3.76%) and LAKEVIEW LOAN SERVICING, LLC (3.84%).

Phoenix FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PHOENIX-MESA-CHANDLER, AZ MARICOPA 2022 $441,600 $565,300 $683,350 $849,250
PHOENIX-MESA-CHANDLER, AZ PINAL 2022 $441,600 $565,300 $683,350 $849,250
PHOENIX-MESA-CHANDLER, AZ MARICOPA 2023 $530,150 $678,700 $820,350 $1,019,550
PHOENIX-MESA-CHANDLER, AZ PINAL 2023 $530,150 $678,700 $820,350 $1,019,550

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Phoenix (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $339,700 (6.2%) $582,121 (9.1%) 1.26 16,040
2018-02-01 $349,950 (7.0%) $596,230 (9.1%) 1.27 15,903
2018-03-01 $364,900 (8.3%) $614,257 (9.8%) 1.28 15,660
2018-04-01 $364,900 (5.0%) $615,185 (7.8%) 1.24 15,588
2018-05-01 $364,450 (4.4%) $606,681 (6.8%) 1.22 15,053
2018-06-01 $359,000 (5.6%) $589,104 (5.6%) 1.20 14,601
2018-07-01 $349,900 (4.5%) $562,151 (4.7%) 1.17 14,196
2018-08-01 $344,750 (4.5%) $549,091 (4.1%) 1.15 14,585
2018-09-01 $345,000 (4.6%) $548,169 (3.3%) 1.16 14,741
2018-10-01 $340,099 (3.1%) $552,484 (2.3%) 1.15 16,146
2018-11-01 $342,200 (3.7%) $568,839 (3.2%) 1.16 16,970
2018-12-01 $344,828 (3.0%) $575,150 (1.1%) 1.19 16,741
2019-01-01 $347,945 (2.4%) $582,810 (0.1%) 1.20 17,303
2019-02-01 $349,900 (0.0%) $587,222 (-1.5%) 1.18 17,882
2019-03-01 $361,329 (-1.0%) $601,751 (-2.0%) 1.18 17,409
2019-04-01 $371,350 (1.8%) $615,009 (0.0%) 1.18 16,852
2019-05-01 $374,600 (2.8%) $618,035 (1.9%) 1.17 15,913
2019-06-01 $380,000 (5.9%) $626,550 (6.4%) 1.19 14,610
2019-07-01 $382,536 (9.3%) $624,785 (11.1%) 1.20 13,215
2019-08-01 $384,727 (11.6%) $628,020 (14.4%) 1.22 12,659
2019-09-01 $384,318 (11.4%) $631,551 (15.2%) 1.23 12,832
2019-10-01 $384,045 (12.9%) $637,627 (15.4%) 1.24 13,012
2019-11-01 $383,995 (12.2%) $643,327 (13.1%) 1.26 12,980
2019-12-01 $379,990 (10.2%) $659,922 (14.7%) 1.27 11,902
2020-01-01 $392,311 (12.8%) $681,225 (16.9%) 1.31 11,211
2020-02-01 $399,900 (14.3%) $697,431 (18.8%) 1.31 10,356
2020-03-01 $404,264 (11.9%) $698,688 (16.1%) 1.27 10,126
2020-04-01 $375,000 (1.0%) $621,453 (1.1%) 1.17 12,654
2020-05-01 $385,000 (2.8%) $643,224 (4.1%) 1.17 11,855
2020-06-01 $430,250 (13.2%) $747,605 (19.3%) 1.27 8,794
2020-07-01 $448,995 (17.4%) $784,016 (25.5%) 1.30 7,386
2020-08-01 $444,000 (15.4%) $775,732 (23.5%) 1.27 7,165
2020-09-01 $436,304 (13.5%) $773,557 (22.5%) 1.25 7,350
2020-10-01 $435,000 (13.3%) $771,889 (21.1%) 1.25 7,633
2020-11-01 $417,000 (8.6%) $746,886 (16.1%) 1.22 7,216
2020-12-01 $408,500 (7.5%) $736,213 (11.6%) 1.21 5,980
2021-01-01 $414,970 (5.8%) $773,410 (13.5%) 1.24 4,955
2021-02-01 $412,950 (3.3%) $800,100 (14.7%) 1.20 4,019
2021-03-01 $420,000 (3.9%) $800,154 (14.5%) 1.19 3,916
2021-04-01 $427,995 (14.1%) $807,094 (29.9%) 1.16 4,156
2021-05-01 $450,000 (16.9%) $817,309 (27.1%) 1.20 4,275
2021-06-01 $460,000 (6.9%) $801,961 (7.3%) 1.21 4,872
2021-07-01 $475,000 (5.8%) $773,132 (-1.4%) 1.25 5,623
2021-08-01 $475,000 (7.0%) $753,806 (-2.8%) 1.27 6,017
2021-09-01 $476,950 (9.3%) $747,219 (-3.4%) 1.27 6,236
2021-10-01 $484,993 (11.5%) $754,445 (-2.3%) 1.29 6,462
2021-11-01 $482,495 (15.7%) $765,486 (2.5%) 1.29 6,256
2021-12-01 $487,000 (19.2%) $783,838 (6.5%) 1.32 5,573
2022-01-01 $499,000 (20.3%) $815,920 (5.5%) 1.35 4,645
2022-02-01 $499,950 (21.1%) $857,432 (7.2%) 1.30 4,050
2022-03-01 $500,950 (19.3%) $864,079 (8.0%) 1.25 4,029
2022-04-01 $525,000 (22.7%) $877,482 (8.7%) 1.25 4,590
2022-05-01 $549,450 (22.1%) $856,587 (4.8%) 1.26 7,121
2022-06-01 $547,500 (19.0%) $818,345 (2.0%) 1.22 10,236
2022-07-01 $525,000 (10.5%) $746,534 (-3.4%) 1.18 14,297
2022-08-01 $499,950 (5.3%) $709,896 (-5.8%) 1.16 16,371
2022-09-01 $494,475 (3.7%) $700,561 (-6.2%) 1.16 16,733
2022-10-01 $485,000 (0.0%) $709,726 (-5.9%) 1.14 17,772
2022-11-01 $477,000 (-1.1%) $717,207 (-6.3%) 1.15 17,345
2022-12-01 $474,900 (-2.5%) $721,974 (-7.9%) 1.17 14,790
2023-01-01 $479,495 (-3.9%) $758,362 (-7.1%) 1.19 13,487
2023-02-01 $487,000 (-2.6%) $807,832 (-5.8%) 1.18 12,499
2023-03-01 $499,363 (-0.3%) $845,639 (-2.1%) 1.18 11,470
2023-04-01 $516,006 (-1.7%) $884,740 (0.8%) 1.20 10,164
2023-05-01 $529,447 (-3.6%) $916,513 (7.0%) 1.20 9,166
2023-06-01 $539,945 (-1.4%) $928,389 (13.5%) 1.21 8,598
2023-07-01 $539,900 (2.8%) $892,899 (19.6%) 1.23 8,231
2023-08-01 $537,900 (7.6%) $882,775 (24.4%) 1.24 8,700
2023-09-01 $532,000 (7.6%) $867,398 (23.8%) 1.24 9,317
2023-10-01 $529,759 (9.2%) $874,104 (23.2%) 1.25 10,798
2023-11-01 $522,450 (9.5%) $871,475 (21.5%) 1.24 12,000
2023-12-01 $526,725 (10.9%) $885,567 (22.7%) 1.28 11,355
Phoenix's median listing price for 2023-12-01 was $526,725, a difference of $51,825 (10.9%) versus the prior year and $4,275 versus the prior month.

Phoenix's median listing price comes in at 128% of the national average.

Phoenix's average listing price for 2023-12-01 was $885,567, a difference of $163,593 (22.7%) versus the prior year and $14,092 versus the prior month.

For the 2023-12-01 period, Phoenix had 11,355 MLS listings, a difference of -645 listings (-5%) versus the prior month and -3,435 listings (-23%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Phoenix (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 59 days 2,154 sqft
2018-02-01 44 days 2,190 sqft
2018-03-01 43 days 2,247 sqft
2018-04-01 43 days 2,243 sqft
2018-05-01 43 days 2,245 sqft
2018-06-01 44 days 2,218 sqft
2018-07-01 45 days 2,180 sqft
2018-08-01 46 days 2,160 sqft
2018-09-01 44 days 2,154 sqft
2018-10-01 43 days 2,137 sqft
2018-11-01 44 days 2,137 sqft
2018-12-01 52 days 2,128 sqft
2019-01-01 59 days 2,122 sqft
2019-02-01 47 days 2,132 sqft
2019-03-01 44 days 2,172 sqft
2019-04-01 44 days 2,210 sqft
2019-05-01 46 days 2,214 sqft
2019-06-01 49 days 2,237 sqft
2019-07-01 51 days 2,254 sqft
2019-08-01 48 days 2,251 sqft
2019-09-01 42 days 2,243 sqft
2019-10-01 39 days 2,236 sqft
2019-11-01 44 days 2,215 sqft
2019-12-01 51 days 2,202 sqft
2020-01-01 57 days 2,205 sqft
2020-02-01 44 days 2,216 sqft
2020-03-01 40 days 2,202 sqft
2020-04-01 36 days 2,100 sqft
2020-05-01 49 days 2,119 sqft
2020-06-01 51 days 2,221 sqft
2020-07-01 41 days 2,208 sqft
2020-08-01 30 days 2,164 sqft
2020-09-01 27 days 2,131 sqft
2020-10-01 28 days 2,113 sqft
2020-11-01 37 days 2,028 sqft
2020-12-01 40 days 1,992 sqft
2021-01-01 42 days 1,997 sqft
2021-02-01 34 days 1,982 sqft
2021-03-01 29 days 1,978 sqft
2021-04-01 27 days 1,972 sqft
2021-05-01 27 days 1,993 sqft
2021-06-01 26 days 1,986 sqft
2021-07-01 27 days 1,990 sqft
2021-08-01 28 days 2,005 sqft
2021-09-01 30 days 1,988 sqft
2021-10-01 30 days 2,002 sqft
2021-11-01 33 days 2,002 sqft
2021-12-01 36 days 1,993 sqft
2022-01-01 37 days 1,990 sqft
2022-02-01 28 days 1,980 sqft
2022-03-01 28 days 1,940 sqft
2022-04-01 24 days 1,963 sqft
2022-05-01 22 days 1,977 sqft
2022-06-01 24 days 1,972 sqft
2022-07-01 30 days 1,942 sqft
2022-08-01 37 days 1,915 sqft
2022-09-01 46 days 1,904 sqft
2022-10-01 51 days 1,908 sqft
2022-11-01 58 days 1,910 sqft
2022-12-01 69 days 1,898 sqft
2023-01-01 74 days 1,918 sqft
2023-02-01 60 days 1,940 sqft
2023-03-01 50 days 1,976 sqft
2023-04-01 50 days 2,010 sqft
2023-05-01 45 days 2,033 sqft
2023-06-01 44 days 2,050 sqft
2023-07-01 45 days 2,039 sqft
2023-08-01 45 days 2,034 sqft
2023-09-01 39 days 2,020 sqft
2023-10-01 37 days 2,010 sqft
2023-11-01 40 days 1,984 sqft
2023-12-01 53 days 2,027 sqft
Phoenix's median listing age (time on market) for 2023-12-01 was 53 days. This is -23% shorter than the same period one year ago.

Phoenix's median square footage for active listings during the 2023-12-01 period was 2,027 sqft. One year prior, the average listing was 1,898 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).