Phoenix FHA Loan Rates, Closing Costs & Stats

PHOENIX-MESA-CHANDLER, AZ

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    • 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 6.22% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

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

    The average rate for the prior week (2023-05-19) was 5.99% and one month ago for the week of 2023-04-21, the average rate was 5.73%.

    The average rate one year ago was 4.75%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.28%.

    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 Bancorporation, N.A. 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%) $582,430 (9.2%) 1.26 16,043
    2018-02-01 $349,950 (7.0%) $596,508 (9.1%) 1.27 15,908
    2018-03-01 $364,900 (8.3%) $614,504 (9.8%) 1.28 15,664
    2018-04-01 $364,900 (5.0%) $615,486 (7.8%) 1.24 15,591
    2018-05-01 $364,450 (4.5%) $606,867 (6.8%) 1.22 15,056
    2018-06-01 $359,000 (5.6%) $589,302 (5.6%) 1.20 14,604
    2018-07-01 $349,900 (4.5%) $562,394 (4.7%) 1.17 14,197
    2018-08-01 $344,750 (4.5%) $549,397 (4.1%) 1.15 14,588
    2018-09-01 $345,000 (4.6%) $548,172 (3.2%) 1.16 14,745
    2018-10-01 $339,974 (3.1%) $552,471 (2.2%) 1.15 16,148
    2018-11-01 $342,125 (3.7%) $568,819 (3.1%) 1.16 16,972
    2018-12-01 $344,753 (2.9%) $575,128 (1.1%) 1.19 16,743
    2019-01-01 $347,938 (2.4%) $582,777 (0.1%) 1.20 17,306
    2019-02-01 $349,900 (0.0%) $587,151 (-1.6%) 1.18 17,886
    2019-03-01 $364,900 (0.0%) $604,679 (-1.6%) 1.22 17,467
    2019-04-01 $371,250 (1.7%) $614,895 (-0.1%) 1.18 16,865
    2019-05-01 $374,450 (2.7%) $617,921 (1.8%) 1.17 15,918
    2019-06-01 $380,000 (5.9%) $626,446 (6.3%) 1.19 14,614
    2019-07-01 $382,450 (9.3%) $624,669 (11.1%) 1.20 13,218
    2019-08-01 $389,900 (13.1%) $631,890 (15.0%) 1.22 12,040
    2019-09-01 $407,450 (18.1%) $678,409 (23.8%) 1.29 10,459
    2019-10-01 $383,196 (12.7%) $637,482 (15.4%) 1.24 13,015
    2019-11-01 $383,897 (12.2%) $643,234 (13.1%) 1.26 12,987
    2019-12-01 $379,975 (10.2%) $659,754 (14.7%) 1.27 11,907
    2020-01-01 $392,236 (12.7%) $681,132 (16.9%) 1.31 11,214
    2020-02-01 $399,900 (14.3%) $697,352 (18.8%) 1.31 10,358
    2020-03-01 $404,250 (10.8%) $698,594 (15.5%) 1.27 10,129
    2020-04-01 $375,000 (1.0%) $621,373 (1.1%) 1.17 12,657
    2020-05-01 $385,000 (2.8%) $643,136 (4.1%) 1.17 11,858
    2020-06-01 $430,123 (13.2%) $747,398 (19.3%) 1.27 8,797
    2020-07-01 $448,489 (17.3%) $783,652 (25.5%) 1.30 7,390
    2020-08-01 $443,000 (13.6%) $775,542 (22.7%) 1.27 7,165
    2020-09-01 $436,293 (7.1%) $773,425 (14.0%) 1.25 7,352
    2020-10-01 $435,000 (13.5%) $771,753 (21.1%) 1.25 7,635
    2020-11-01 $417,000 (8.6%) $746,740 (16.1%) 1.22 7,220
    2020-12-01 $408,350 (7.5%) $735,976 (11.6%) 1.21 5,984
    2021-01-01 $414,925 (5.8%) $773,187 (13.5%) 1.24 4,959
    2021-02-01 $412,950 (3.3%) $800,106 (14.7%) 1.20 4,020
    2021-03-01 $420,000 (3.9%) $799,830 (14.5%) 1.19 3,920
    2021-04-01 $427,500 (14.0%) $806,862 (29.9%) 1.16 4,158
    2021-05-01 $450,000 (16.9%) $817,252 (27.1%) 1.19 4,278
    2021-06-01 $460,000 (7.0%) $801,647 (7.3%) 1.21 4,875
    2021-07-01 $475,000 (5.9%) $773,108 (-1.4%) 1.25 5,625
    2021-08-01 $475,000 (7.2%) $753,747 (-2.8%) 1.27 6,019
    2021-09-01 $476,950 (9.3%) $747,412 (-3.4%) 1.27 6,238
    2021-10-01 $484,900 (11.5%) $754,298 (-2.3%) 1.29 6,465
    2021-11-01 $482,495 (15.7%) $765,634 (2.5%) 1.29 6,258
    2021-12-01 $487,000 (19.3%) $784,070 (6.5%) 1.32 5,574
    2022-01-01 $499,000 (20.3%) $816,259 (5.6%) 1.35 4,645
    2022-02-01 $499,950 (21.1%) $857,630 (7.2%) 1.30 4,050
    2022-03-01 $499,950 (19.0%) $864,207 (8.1%) 1.25 4,031
    2022-04-01 $525,000 (22.8%) $877,383 (8.7%) 1.25 4,592
    2022-05-01 $549,450 (22.1%) $856,546 (4.8%) 1.26 7,123
    2022-06-01 $547,500 (19.0%) $818,385 (2.1%) 1.22 10,239
    2022-07-01 $525,000 (10.5%) $746,938 (-3.4%) 1.19 14,301
    2022-08-01 $499,950 (5.3%) $710,114 (-5.8%) 1.15 16,376
    2022-09-01 $494,500 (3.7%) $700,700 (-6.3%) 1.16 16,739
    2022-10-01 $485,000 (0.0%) $709,952 (-5.9%) 1.14 17,776
    2022-11-01 $477,000 (-1.1%) $717,189 (-6.3%) 1.15 17,348
    2022-12-01 $474,900 (-2.5%) $723,091 (-7.8%) 1.17 14,792
    2023-01-01 $479,495 (-3.9%) $758,688 (-7.1%) 1.19 13,489
    2023-02-01 $487,000 (-2.6%) $808,936 (-5.7%) 1.17 12,500
    2023-03-01 $499,250 (-0.1%) $846,696 (-2.0%) 1.18 11,471
    2023-04-01 $518,850 (-1.2%) $886,232 (1.0%) 1.21 10,164
    Phoenix's median listing price for 2023-04-01 was $518,850, a difference of $-6,150 (-1.2%) versus the prior year and $19,600 versus the prior month.

    Phoenix's median listing price comes in at 121% of the national average.

    Phoenix's average listing price for 2023-04-01 was $886,232, a difference of $8,849 (1.0%) versus the prior year and $39,536 versus the prior month.

    For the 2023-04-01 period, Phoenix had 10,164 MLS listings, a difference of -1,307 listings (-11%) versus the prior month and 5,572 listings (121%) 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 49 days 2,181 sqft
    2019-04-01 48 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 2,254 sqft
    2019-08-01 64 days 2,271 sqft
    2019-09-01 58 days 2,345 sqft
    2019-10-01 42 days 2,231 sqft
    2019-11-01 45 days 2,214 sqft
    2019-12-01 53 days 2,202 sqft
    2020-01-01 59 days 2,205 sqft
    2020-02-01 45 days 2,216 sqft
    2020-03-01 41 days 2,201 sqft
    2020-04-01 38 days 2,100 sqft
    2020-05-01 50 days 2,119 sqft
    2020-06-01 55 days 2,220 sqft
    2020-07-01 44 days 2,207 sqft
    2020-08-01 31 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 41 days 1,992 sqft
    2021-01-01 43 days 1,997 sqft
    2021-02-01 34 days 1,982 sqft
    2021-03-01 30 days 1,977 sqft
    2021-04-01 28 days 1,972 sqft
    2021-05-01 28 days 1,992 sqft
    2021-06-01 26 days 1,986 sqft
    2021-07-01 27 days 1,989 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 1,980 sqft
    2022-03-01 29 days 1,940 sqft
    2022-04-01 24 days 1,963 sqft
    2022-05-01 22 days 1,976 sqft
    2022-06-01 24 days 1,972 sqft
    2022-07-01 30 days 1,942 sqft
    2022-08-01 38 days 1,915 sqft
    2022-09-01 47 days 1,904 sqft
    2022-10-01 51 days 1,907 sqft
    2022-11-01 58 days 1,910 sqft
    2022-12-01 70 days 1,897 sqft
    2023-01-01 74 days 1,917 sqft
    2023-02-01 62 days 1,937 sqft
    2023-03-01 51 days 1,975 sqft
    2023-04-01 51 days 2,010 sqft
    Phoenix's median listing age (time on market) for 2023-04-01 was 51 days. This is 113% longer than the same period one year ago.

    Phoenix's median square footage for active listings during the 2023-04-01 period was 2,010 sqft. One year prior, the average listing was 1,963 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).