April 2026 Market Report presented by Ashlee Donaldson
The April 2026 Market Report is here to keep you connected to market updates, featured homes, and everything happening in and around the Phoenix Valley each month. Take a look around our website while you’re here – you’ll find our featured properties, learn more about our team, and discover resources designed to help with your next move.
What Home Buyers Should Know:
Rates Decline Again in April
March was an eventful month as rates spiked from 5.99% to 6.64%, according to Mortgage News Daily. The spike was a direct response to uncertainty over the Iran conflict and its effect on U.S. inflation. Once the unemployment report was released, showing an improvement from 4.4% to 4.3%, rates began drifting back down. By the time CPI inflation was released at 3.3%, up from 2.4%, it had already been priced into rates, so there was little effect. As of mid-April, rates were back to 6.3% and trending down.
The Effect:
Listing Supply:
The increase in supply seen in January and February stalled in March and continued into April as well. In February, supply was up 9% over last year. In March, supply was only up 4.8%, and in April it is barely up 0.2% thus far. With both contract and listing activity stalled, they have effectively canceled each other out, thus maintaining the status quo for home prices.
What to Expect:
While the conflict with Iran is not settled, markets are responding as if they expect it to be a short-term influence on inflation. If that proves to be true, then there will be little impact on home values, as they typically take 3-6 months to respond to a prolonged disturbance in the market. Since September 2022, the median mortgage rate has been 6.89%. This puts the current 6.3% mortgage rate well on the lower end of the last 3.5 years.
What Home Sellers Should Know:
Single Family Home Prices Remain Stable Year-Over-Year
Sellers have the least advantage in the condominium market under $300K, as supply is up 2-% over last year and contracts in escrow are up only 13%. April sold prices are down 9.5% from last year in this segment, with the median size sold at 1,048 sq. ft. Historically, prices in this segment are similar to where they were five years ago, around May 2021. Conversely, single-family homes between 1,200 – 2,400 sq. ft. have shown the most stability in prices over the past three years, with minimal flucuation.
Median Single-Family Home Size Data:
Median Single-Family Home Price Data:
Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report
Cordially Phoenix
Boutique & Gifts
This month’s featured local vendor is Cordially Phoenix, a thoughtfully curated boutique and gift shop located in the heart of Phoenix.
Cordially Phoenix is the kind of place you pop into for “just a quick gift” and somehow leave inspired with ideas for your home, your next gathering, or your entire gift list. Their collection includes beautifully selected home goods, apparel, and specialty gifts – many of which can be personalized or custom ordered for a more meaningful touch.
Beyond the shop itself, Cordially Phoenix has become a true community space, hosting engaging and creative experiences throughout the month. From Mahjong classes and sourdough workshops to espresso martini nights and champagne bottle decorating, they’ve built a space that blends shopping with connection and fun.
A few things you’ll find in-store include curated brands like Beatriz Ball, Hester & Cook, Jellycat, Johnnie-O, and Porch View Home, along with personalized doormats and unique lifestyle pieces you won’t typically find in larger retail stores.
Whether you’re looking for a standout birthday gift, something thoughtful for a housewarming, or a special stop for Mother’s Day shopping, Cordially Phoenix is one to keep on your radar.
Visit them at 5121 N Central Avenue in Phoenix or explore more online!
