Inventory is up 29% year over year, 76% of active listings are carrying price reductions, and motivated sellers are everywhere. Meanwhile national STR supply growth has slowed to around 4.6% projected for 2026, down from over 20% annually at the 2021-2022 peak.

Phoenix Metro is also outperforming the national market significantly. While national STR occupancy fell 13% in early 2026, Phoenix Metro posted a +10.2% year over year gain. The underlying demand remains strong.

For investors with capital ready this is worth paying attention to. I analyze Phoenix Metro STR deals every week and pass on the majority of what I see, but the ones that do work right now are genuinely compelling.

Are you finding motivated sellers in your market right now or is this more of a Phoenix-specific dynamic?