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 283 lenders originated 30,803 FHA loans during 2021. The total origination value was $8,356,615,000, with an average FHA loan value of $271,292.

Phoenix FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Phoenix averaged -0.01% for the week of 2022-11-25, compared to the national average (all FHA variants) of 0% for the same period.

Phoenix's average FHA mortgage closing costs are $7,937.

The average rate for the prior week (2022-11-18) was 6.72% and one month ago for the week of 2022-10-21, the average rate was 7.03%.

The average rate one year ago was 3.2%.

For refis of the same type during the week of 2022-11-25, the average rate was -0.49%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 1,908 2.62% $7,239
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,657 3.45% $10,195
UNITED WHOLESALE MORTGAGE, LLC 1,229 2.70% $8,467
FREEDOM MORTGAGE CORPORATION 1,060 2.77% $5,477
NOVA FINANCIAL & INVESTMENT CORPORATION 1,048 3.44% $8,600
LAKEVIEW LOAN SERVICING, LLC 934 2.85% $5,079
Amerifirst Financial, Inc. 800 3.21% $8,787
LOANDEPOT.COM, LLC 790 3.31% $9,843
DHI MORTGAGE COMPANY, LTD. 569 3.09% $8,623
Mr. Cooper ( Nationstar Mortgage ) 540 3.17% $5,462
V.I.P. MORTGAGE, INC. 535 3.32% $9,910
CALIBER HOME LOANS, INC. 471 2.94% $7,528
PENNYMAC LOAN SERVICES, LLC 460 2.98% $5,698
GUILD MORTGAGE COMPANY 422 3.06% $8,606
SECURITYNATIONAL MORTGAGE COMPANY 415 3.75% $12,201
Lakeview Community Capital, LLC 396 2.89% $4,937
CROSSCOUNTRY MORTGAGE, LLC 349 3.21% $10,248
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 325 3.26% $9,807
MORIA DEVELOPMENT, INC. 316 3.43% $10,578
FINANCE OF AMERICA MORTGAGE LLC 294 3.25% $9,861
HOME POINT FINANCIAL CORPORATION 293 2.74% $8,026
NEWREZ LLC 270 2.94% $6,078
HOMEOWNERS FINANCIAL GROUP USA, LLC 265 3.24% $9,886
BROKER SOLUTIONS, INC. 264 3.21% $9,212
HOMEBRIDGE FINANCIAL SERVICES, INC. 264 2.62% $6,007
NFM, INC. 258 3.29% $10,785
Carrington Mortgage Services, LLC 249 3.40% $8,955
Paramount Residential Mortgage Group, Inc. 239 3.09% $8,189
ACADEMY MORTGAGE CORPORATION 224 3.31% $10,784
BAY EQUITY LLC 224 3.25% $10,102
AMERICAN FINANCIAL NETWORK, INC. 214 3.09% $10,858
GENEVA FINANCIAL, LLC 194 3.45% $10,988
EAGLE HOME MORTGAGE, LLC 192 3.32% $11,304
Neighborhood Loans, Inc. 183 3.42% $10,486
PRIMARY RESIDENTIAL MORTGAGE, INC. 178 3.49% $9,715
HOMEAMERICAN MORTGAGE CORPORATION 164 2.80% $5,751
VILLAGE CAPITAL MORTGAGE 156 2.85% $2,795
LHM FINANCIAL CORPORATION 150 3.04% $9,265
PULTE MORTGAGE LLC 146 3.10% $5,791
INSPIRE HOME LOANS INC. 144 3.33% $8,911
GUARANTEED RATE, INC. 144 3.08% $9,841
PRIMELENDING, A PLAINSCAPITAL COMPANY 141 3.30% $10,308
South Pacific Financial Corporation 136 2.73% $11,493
Waterstone Mortgage Corporation 136 3.18% $10,315
SUN WEST MORTGAGE COMPANY, INC. 135 2.91% $8,127
AMERICAN PACIFIC MORTGAGE CORPORATION 133 3.12% $9,890
AMERISAVE MORTGAGE CORPORATION 130 2.95% $9,019
NEW WEST LENDING, INC. 127 2.94% $8,805
AmeriHome Mortgage Company, LLC 118 2.85% $4,717
PLANET HOME LENDING, LLC 117 2.75% $6,009
Gateway First Bank 113 3.40% $9,028
Wallick & Volk, Inc. 112 3.59% $10,505
KBHS HOME LOANS, LLC 108 3.40% $10,573
First Guaranty Mortgage Corporation 108 2.82% $6,119
CMG MORTGAGE, INC. 104 3.08% $9,430
ON Q FINANCIAL, INC. 104 3.07% $10,472
Commerce Home Mortgage, Inc. 99 3.12% $9,163
ARK-LA-TEX FINANCIAL SERVICES, LLC. 98 3.41% $8,751
SUBURBAN MORTGAGE, INC. 95 3.03% $8,266
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 91 3.15% $10,213
ALL WESTERN MORTGAGE, INC. 90 3.47% $10,477
LOANPAL, LLC 88 2.60% $10,070
AMERICAN FINANCING CORPORATION 83 2.75% $8,285
LEADERONE FINANCIAL CORPORATION 83 3.32% $9,279
MOVEMENT MORTGAGE, LLC 80 3.29% $8,878
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 77 3.42% $9,575
MATTAMY HOME FUNDING, LLC 73 2.64% $11,524
Home Mortgage Alliance Corp 72 3.17% $11,453
ENVOY MORTGAGE, LTD 71 3.44% $9,749
InterContinental Capital Group, Inc 69 2.64% $7,335
SUMMIT FUNDING, INC. 63 3.39% $11,008
CITYWIDE HOME LOANS, LLC 61 3.12% $9,979
MID AMERICA MORTGAGE, INC. 58 3.03% $4,160
Equity Prime Mortgage LLC 57 3.41% $9,239
Flagstar Bank, FSB 57 2.81% $8,225
BROOKHOLLOW MORTGAGE SERVICES, LTD 56 3.15% $12,075
SWBC MORTGAGE CORPORATION 55 3.94% $9,500
CELEBRITY HOME LOANS, LLC 55 3.19% $10,749
PLAZA HOME MORTGAGE, INC. 50 2.79% $9,655
Nations Lending Corporation 48 3.29% $12,822
Hometown Lenders, Inc. 48 3.29% $10,496
Sunflower Bank 48 3.37% $10,094
MICHIGAN MUTUAL, INC. 47 3.52% $11,010
Lend Smart Mortgage, LLC 46 3.35% $9,321
Bell Bank 44 3.19% $9,173
SUNSTREET MORTGAGE, LLC 43 3.40% $8,838
STARBOARD FINANCIAL MANAGEMENT, LLC 42 3.18% $9,400
The Federal Savings Bank 41 2.82% $11,253
TOP FLITE FINANCIAL, INC. 39 3.34% $14,042
VELOCIO MORTGAGE L.L.C. 37 3.35% $13,825
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 36 3.02% $11,104
FBC MORTGAGE, LLC 35 3.08% $9,234
INTERCAP LENDING INC. 35 3.45% $11,186
BEST CAPITAL FUNDING 31 3.25% $9,895
PREMIER LENDING, INC. 31 3.28% $9,615
SOVEREIGN LENDING GROUP INCORPORATED 30 2.77% $9,393
STEARNS LENDING, LLC 29 2.99% $8,993
AMERICAN FINANCIAL RESOURCES, INC. 28 3.07% $8,002
TOWNE MORTGAGE COMPANY 27 3.06% $9,897
FIRST CENTENNIAL MORTGAGE CORPORATION 26 3.21% $8,917
SUN AMERICAN MORTGAGE COMPANY 26 3.17% $9,889
First Option Mortgage, LLC 26 3.37% $11,342
IDEAL HOME LOANS LLC 26 2.80% $9,468
ARC HOME LLC 26 2.88% $8,786
Utah Mortgage Loan Corporation 25 3.25% $9,200
NATIONS DIRECT MORTGAGE, LLC 24 3.28% $10,035
RESIDENTIAL BANCORP. 23 3.20% $8,818
UNION HOME MORTGAGE CORP. 22 2.88% $9,440
AXIA FINANCIAL, LLC 22 3.42% $10,160
MUTUAL OF OMAHA MORTGAGE, INC. 21 2.78% $8,958
LAND HOME FINANCIAL SERVICES, INC. 21 3.71% $12,413
GUARANTEED RATE AFFINITY, LLC 20 2.93% $9,377
INTERNATIONAL CITY MORTGAGE, INC. 20 3.62% $10,421
DATA MORTGAGE, INC. 19 3.93% $11,040
ML Mortgage Corp. 19 3.30% $9,644
OCEANSIDE MORTGAGE COMPANY 19 2.84% $3,700
GoPrime Mortgage, Inc. 19 3.66% $10,630
U.S. Bank 19 3.13% $7,577
Watermark Capital, Inc. 19 2.92% $8,442
CHERRY CREEK MORTGAGE, LLC 18 3.50% $4,831
Loan Simple, Inc. 17 3.32% $10,021
SOUTHWEST STAGE FUNDING, LLC 17 3.18% $4,848
First National Bank Texas 16 3.17% $9,395
CORNERSTONE HOME LENDING, INC. 16 3.44% $11,377
Austin Capital Bank SSB 16 3.44% $10,773
JPMorgan Chase Bank 16 2.98% $6,037
CANOPY MORTGAGE, LLC 16 2.35% $8,530
INTELLILOAN, INC. 15 2.86% $8,870
UNITED SECURITY FINANCIAL CORP 15 2.73% $6,517
HOMESIDE FINANCIAL, LLC 15 3.01% $10,327
CHURCHILL MORTGAGE CORPORATION 15 3.13% $9,904
LADERA LENDING, INC. 15 3.05% $7,527
DIRECTORS MORTGAGE, INC. 14 3.60% $11,977
AMCAP MORTGAGE, LTD. 14 3.43% $10,211
DIRECT MORTGAGE, CORP. 14 2.68% $13,865
MORTGAGE SOLUTIONS OF COLORADO, LLC 14 3.22% $11,410
PANORAMA MORTGAGE GROUP, LLC 14 3.31% $9,967
PHH Mortgage Corporation 14 3.06% $6,948
ZILLOW HOME LOANS, LLC 14 2.88% $8,177
LOANLEADERS OF AMERICA, INC. 13 2.90% $11,563
M&T Bank 13 3.13% $7,701
BOKF 12 2.93% $9,813
ARIZONA 12 3.01% $7,536
VERITAS FUNDING, LLC 12 2.88% $11,207
KELLER MORTGAGE, LLC 11 2.68% $7,558
EVERETT FINANCIAL, INC. 11 3.61% $7,581
ISERVE RESIDENTIAL LENDING, LLC 11 3.78% $10,730
CLEARPATH LENDING 10 2.93% $5,457
NETWORK CAPITAL FUNDING CORPORATION 10 3.25% $10,212
WESTERN EXPRESS LENDING 10 2.43% $7,892
Barrington Bank & Trust Company, N.A. 10 3.18% $9,286
DAS Acquisition Company, LLC 10 3.56% $8,969
OCMBC, INC. 10 3.20% $9,343
Sierra Pacific Mortgage Company, Inc. 9 2.89% $9,451
Hometown Equity Mortgage, LLC 9 4.24% $11,333
Bank of America 9 2.89% $6,293
TJC Mortgage, Inc. 9 3.06% $8,070
Shea Mortgage Inc. 9 2.83% $6,241
MOUNTAIN WEST FINANCIAL, INC. 9 2.93% $10,034
Low VA Rates, LLC 8 2.95% $4,179
EMBRACE HOME LOANS, INC. 8 3.00% $9,070
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 8 3.56% $9,536
MOUNTAIN AMERICA 8 2.81% $10,360
PINNACLE LENDING GROUP, INC. 7 3.23% $10,579
First Home Bank 7 3.27% $12,833
SFMC, LP 7 3.18% $9,386
ABSOLUTE HOME MORTGAGE CORPORATION 7 2.45% $7,212
Strong Home Mortgage, LLC 7 2.50% $6,623
Franklin Loan Corporation 7 3.50% $12,099
BELEM SERVICING LLC 6 3.04% $8,348
Bank of England 6 3.19% $11,470
PACIFIC RESIDENTIAL MORTGAGE, LLC 6 3.75% $10,743
ALTITUDE FINANCIAL CORPORATION 6 3.33% $7,634
CITY FIRST MORTGAGE SERVICES, L.L.C. 6 3.23% $9,445
RELIANCE FIRST CAPITAL, LLC 6 2.85% $11,549
Prime Choice Funding Inc. 6 2.81% $8,625
PARKSIDE LENDING, LLC 6 2.75% $7,828
INTERLINC MORTGAGE SERVICES, LLC 6 3.33% $9,144
Chickasaw Community Bank 5 2.73% $8,153
Financial Funding Solutions, Inc. 5 2.87% $8,609
Goldwater Bank, N.A. 5 3.48% $10,862
KS StateBank 5 2.80% $8,257
LENDUS, LLC 5 2.95% $9,057
Alaska USA Federal Credit Union 5 3.03% $7,567
Peoples Bank 4 3.53% $13,055
Network Funding, L.P. 4 2.81% $8,950
EMM LOANS LLC 4 3.44% $11,190
S1L, Inc. 4 3.44% $9,662
OPEN MORTGAGE, LLC 4 3.00% $7,682
MLD MORTGAGE INC. 4 3.21% $8,591
Plains Commerce Bank 4 3.16% $10,140
Mortgage Research Center, LLC 4 3.15% $8,051
First Western Trust Bank 3 2.71% $9,452
INLAND BANK & TRUST 3 3.67% $9,351
HUNT MORTGAGE CORPORATION 3 3.58% $7,927
MANN FINANCIAL INC. 3 3.08% $11,047
FirstBank 3 3.04% $9,383
NEXERA HOLDING LLC 3 2.71% $7,869
Northpointe Bank 3 2.63% $11,026
Wyndham Capital Mortgage, Inc. 3 2.92% $9,993
Prosperity Home Mortgage, LLC 3 3.33% $8,189
RESIDENTIAL WHOLESALE MORTGAGE, INC. 3 2.79% $8,933
Century Mortgage Company DBA Century Lending Company 3 2.96% $11,892
SUCCESS MORTGAGE PARTNERS, INC. 3 4.08% $12,765
BAYSHORE MORTGAGE FUNDING, LLC 3 2.83% $7,254
THRIVE MORTGAGE, LLC 3 3.42% $8,670
AMERICAN PORTFOLIO MORTGAGE CORPORATION 3 3.17% $8,297
Wells Fargo Bank 3 3.46% $6,456
Golden Empire Mortgage, Inc. 2 3.19% $11,927
Magnolia Bank 2 3.31% $10,903
ALAMEDA MORTGAGE CORPORATION 2 2.50% $8,263
The Union Bank Company 2 2.56% $6,767
JMAC LENDING, INC. 2 3.00% $6,884
GSF Mortgage Corporation 2 2.56% $9,904
Bank of the West 2 3.50% $8,467
VISION ONE MORTGAGE, INC. 2 2.81% $6,037
COUNTRYPLACE MORTGAGE, LTD. 2 3.75% $12,537
CALCULATED RISK ANALYTICS LLC 2 3.25% $9,333
UNITED MORTGAGE CORP. 2 2.75% $6,879
LIBERTY HOME MORTGAGE CORPORATION 2 3.75% $14,218
MUFG Union Bank 2 3.19% $8,361
MEGA CAPITAL FUNDING, INC. 2 2.38% $8,301
Colten Mortgage, LLC 2 2.63% $4,788
Academy Bank 2 3.00% $8,947
BNC National Bank 2 3.00% $8,728
Victorian Finance, LLC 2 2.69% $9,205
BETTER MORTGAGE CORPORATION 2 2.88% $9,594
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.31% $7,906
BECKAM FUNDING CORP. 2 3.31% $10,461
ONY GLO, INC. 2 2.88% $10,480
North American Savings Bank, F.S.B. 2 2.25% $5,798
BBVA USA 2 3.56% $7,326
Evolve Bank & Trust 2 2.88% $7,412
PREMIER MORTGAGE RESOURCES, L.L.C. 2 3.75% $11,169
Paramount Bank 2 2.50% $9,601
NEW DAY FINANCIAL, LLC 2 3.12% $10,029
Texana Bank 2 2.88% $11,066
JMJ FINANCIAL GROUP 1 3.63% $12,911
THE ANDERSON FINANCIAL GROUP, INC. 1 2.88% $10,314
The Home Loan Expert LLC 1 2.75% $5,510
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 4.38% $12,417
Umpqua Bank 1 2.88% $10,863
HighTechLending Inc 1 3.13% $8,532
AmRes Corporation 1 2.75% $7,824
JAMES B. NUTTER & COMPANY 1 2.63% $3,905
AMERICAN ADVISORS GROUP 1 3.00% $9,461
AMERICA FIRST 1 2.50% $7,584
HOMESTEAD FUNDING CORP. 1 2.88% $10,707
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.63% $9,170
HomeStreet Bank 1 3.00% $9,980
NP, Inc. 1 2.88% $9,293
Opportunity Bank of Montana 1 2.88% $11,639
Willamette Valley Bank 1 2.75% $9,730
DRAPER AND KRAMER MORTGAGE CORP. 1 2.63% $4,033
NEST HOME LENDING, LLC 1 3.25% $10,152
FIRST COLONY MORTGAGE CORPORATION 1 3.00% $10,837
NBKC BANK 1 2.50% $8,313
NBH Bank 1 2.63% $11,114
1st Security Bank of Washington 1 2.75% $10,051
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $13,956
PREMIA MORTGAGE, LLC 1 2.50% $5,782
COMPASS MORTGAGE, INC. 1 3.13% $8,104
FIRST COMMUNITY MORTGAGE, INC. 1 2.38% $9,359
Princeton Mortgage Corporation 1 2.88% $14,039
Colonial Savings, F.A. 1 3.75% $9,404
First Savings Bank 1 2.75% $6,672
FISHER FINANCIAL GROUP, INCORPORATED 1 3.38% $6,753
ROYAL UNITED MORTGAGE LLC 1 3.63% $10,185
Florida Capital Bank 1 2.50% $13,215
Citizens Bank of Las Cruces 1 2.63% $10,210
FM Home Loans, LLC 1 2.75% $11,629
MidFirst Bank 1 2.50% $5,220
Mid-Continent Funding, Inc. 1 2.88% $10,008
SIRVA MORTGAGE, INC. 1 3.63% $9,450
SIWELL, INC. 1 3.75% $10,190
Citizens Bank 1 3.00% $16,271
IDAHO CENTRAL 1 2.75% $13,169
SRE MORTGAGE ALLIANCE INC. 1 2.75% $7,101
CENTENNIAL LENDING, LLC 1 3.75% $13,372
Stifel Bank and Trust 1 2.38% $5,161
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 2.88% $11,098
KINECTA 1 3.13% $7,459
MASON MCDUFFIE MORTGAGE CORPORATION 1 3.25% $7,403

The top Phoenix FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,908 FHA loans originated. Their average total fees are $7,239, which is $2,956 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Phoenix FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,795), OCEANSIDE MORTGAGE COMPANY ($3,700), MID AMERICA MORTGAGE, INC. ($4,160), AmeriHome Mortgage Company, LLC ($4,717) and CHERRY CREEK MORTGAGE, LLC ($4,831).

The lowest rate Phoenix FHA lenders (with over 10 loans originated) are CANOPY MORTGAGE, LLC (2.35%), WESTERN EXPRESS LENDING (2.43%), LOANPAL, LLC (2.60%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.62%) and QUICKEN LOANS, LLC (2.62%).

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

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%) $582,422 (9.2%) 1.26 16,044
2018-02-01 $349,950 (7.0%) $596,504 (9.1%) 1.27 15,908
2018-03-01 $364,900 (8.3%) $614,556 (9.8%) 1.28 15,665
2018-04-01 $364,900 (5.0%) $615,538 (7.8%) 1.24 15,592
2018-05-01 $364,450 (4.5%) $606,922 (6.8%) 1.22 15,057
2018-06-01 $359,000 (5.6%) $589,359 (5.6%) 1.20 14,605
2018-07-01 $349,900 (4.5%) $562,454 (4.7%) 1.17 14,198
2018-08-01 $344,750 (4.5%) $549,464 (4.1%) 1.15 14,589
2018-09-01 $345,000 (4.6%) $548,239 (3.2%) 1.16 14,746
2018-10-01 $340,099 (3.1%) $552,532 (2.2%) 1.15 16,149
2018-11-01 $342,125 (3.7%) $568,884 (3.1%) 1.16 16,973
2018-12-01 $344,828 (3.0%) $575,188 (1.1%) 1.19 16,744
2019-01-01 $347,919 (2.4%) $582,791 (0.1%) 1.20 17,305
2019-02-01 $349,900 (0.0%) $587,164 (-1.6%) 1.18 17,885
2019-03-01 $361,329 (-1.0%) $601,668 (-2.1%) 1.18 17,419
2019-04-01 $371,300 (1.8%) $614,863 (-0.1%) 1.18 16,872
2019-05-01 $374,450 (2.7%) $617,709 (1.8%) 1.17 15,948
2019-06-01 $380,000 (5.9%) $626,092 (6.2%) 1.19 14,650
2019-07-01 $382,450 (9.3%) $624,057 (11.0%) 1.20 13,257
2019-08-01 $384,455 (11.5%) $627,264 (14.2%) 1.22 12,706
2019-09-01 $383,636 (11.2%) $630,829 (15.1%) 1.23 12,881
2019-10-01 $383,091 (12.6%) $636,936 (15.3%) 1.24 13,062
2019-11-01 $383,000 (12.0%) $642,782 (13.0%) 1.26 13,034
2019-12-01 $379,950 (10.2%) $659,244 (14.6%) 1.27 11,954
2020-01-01 $391,900 (12.6%) $680,503 (16.8%) 1.31 11,261
2020-02-01 $399,900 (14.3%) $696,639 (18.6%) 1.31 10,405
2020-03-01 $404,225 (11.9%) $697,905 (16.0%) 1.27 10,176
2020-04-01 $375,000 (1.0%) $621,044 (1.0%) 1.17 12,704
2020-05-01 $385,000 (2.8%) $642,737 (4.1%) 1.17 11,904
2020-06-01 $430,000 (13.2%) $746,309 (19.2%) 1.27 8,844
2020-07-01 $446,220 (16.7%) $782,120 (25.3%) 1.29 7,437
2020-08-01 $440,900 (14.7%) $774,100 (23.4%) 1.26 7,211
2020-09-01 $435,000 (13.4%) $772,044 (22.4%) 1.25 7,397
2020-10-01 $434,900 (13.5%) $770,447 (21.0%) 1.25 7,680
2020-11-01 $417,000 (8.9%) $745,576 (16.0%) 1.22 7,266
2020-12-01 $407,500 (7.3%) $734,754 (11.5%) 1.21 6,031
2021-01-01 $414,000 (5.6%) $771,249 (13.3%) 1.24 5,004
2021-02-01 $410,000 (2.5%) $797,526 (14.5%) 1.19 4,066
2021-03-01 $419,950 (3.9%) $797,696 (14.3%) 1.19 3,967
2021-04-01 $427,500 (14.0%) $804,813 (29.6%) 1.16 4,206
2021-05-01 $450,000 (16.9%) $815,262 (26.8%) 1.19 4,323
2021-06-01 $457,500 (6.4%) $799,592 (7.1%) 1.20 4,920
2021-07-01 $474,995 (6.5%) $771,542 (-1.4%) 1.25 5,666
2021-08-01 $475,000 (7.7%) $752,457 (-2.8%) 1.27 6,058
2021-09-01 $472,500 (8.6%) $746,169 (-3.4%) 1.26 6,278
2021-10-01 $481,000 (10.6%) $753,066 (-2.3%) 1.28 6,506
2021-11-01 $482,450 (15.7%) $764,230 (2.5%) 1.29 6,302
2021-12-01 $486,031 (19.3%) $782,459 (6.5%) 1.32 5,619
2022-01-01 $498,013 (20.3%) $814,074 (5.6%) 1.35 4,688
2022-02-01 $499,900 (21.9%) $854,885 (7.2%) 1.30 4,096
2022-03-01 $499,950 (19.1%) $861,731 (8.0%) 1.25 4,077
2022-04-01 $525,000 (22.8%) $875,135 (8.7%) 1.25 4,638
2022-05-01 $549,250 (22.1%) $855,021 (4.9%) 1.26 7,169
2022-06-01 $547,500 (19.7%) $817,245 (2.2%) 1.22 10,285
2022-07-01 $525,000 (10.5%) $746,108 (-3.3%) 1.19 14,344
2022-08-01 $499,950 (5.3%) $709,361 (-5.7%) 1.16 16,417
2022-09-01 $493,500 (4.4%) $700,074 (-6.2%) 1.16 16,779
2022-10-01 $485,000 (0.8%) $709,302 (-5.8%) 1.14 17,819
Phoenix's median listing price for 2022-10-01 was $485,000, a difference of $4,000 (0.8%) versus the prior year and $-8,500 versus the prior month.

Phoenix's median listing price comes in at 114% of the national average.

Phoenix's average listing price for 2022-10-01 was $709,302, a difference of $-43,764 (-5.8%) versus the prior year and $9,228 versus the prior month.

For the 2022-10-01 period, Phoenix had 17,819 MLS listings, a difference of 1,040 listings (6%) versus the prior month and 11,313 listings (174%) 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 62 days 2,154 sqft
2018-02-01 48 days 2,190 sqft
2018-03-01 45 days 2,247 sqft
2018-04-01 44 days 2,243 sqft
2018-05-01 44 days 2,245 sqft
2018-06-01 46 days 2,218 sqft
2018-07-01 48 days 2,180 sqft
2018-08-01 48 days 2,160 sqft
2018-09-01 46 days 2,154 sqft
2018-10-01 44 days 2,137 sqft
2018-11-01 45 days 2,137 sqft
2018-12-01 54 days 2,128 sqft
2019-01-01 61 days 2,122 sqft
2019-02-01 50 days 2,132 sqft
2019-03-01 46 days 2,171 sqft
2019-04-01 46 days 2,210 sqft
2019-05-01 48 days 2,214 sqft
2019-06-01 50 days 2,237 sqft
2019-07-01 53 days 2,253 sqft
2019-08-01 50 days 2,250 sqft
2019-09-01 44 days 2,242 sqft
2019-10-01 41 days 2,235 sqft
2019-11-01 45 days 2,214 sqft
2019-12-01 54 days 2,201 sqft
2020-01-01 59 days 2,205 sqft
2020-02-01 46 days 2,216 sqft
2020-03-01 42 days 2,200 sqft
2020-04-01 38 days 2,100 sqft
2020-05-01 50 days 2,120 sqft
2020-06-01 55 days 2,218 sqft
2020-07-01 44 days 2,206 sqft
2020-08-01 32 days 2,162 sqft
2020-09-01 29 days 2,130 sqft
2020-10-01 29 days 2,113 sqft
2020-11-01 38 days 2,029 sqft
2020-12-01 42 days 1,993 sqft
2021-01-01 43 days 1,997 sqft
2021-02-01 34 days 1,983 sqft
2021-03-01 30 days 1,980 sqft
2021-04-01 28 days 1,973 sqft
2021-05-01 28 days 1,994 sqft
2021-06-01 27 days 1,988 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 1,994 sqft
2022-01-01 38 days 1,990 sqft
2022-02-01 28 days 1,981 sqft
2022-03-01 29 days 1,942 sqft
2022-04-01 25 days 1,963 sqft
2022-05-01 22 days 1,977 sqft
2022-06-01 24 days 1,973 sqft
2022-07-01 31 days 1,942 sqft
2022-08-01 38 days 1,915 sqft
2022-09-01 47 days 1,905 sqft
2022-10-01 51 days 1,907 sqft
Phoenix's median listing age (time on market) for 2022-10-01 was 51 days. This is 70% longer than the same period one year ago.

Phoenix's median square footage for active listings during the 2022-10-01 period was 1,907 sqft. One year prior, the average listing was 2,002 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).