Homebuyers across the Phoenix metro pulled back sharply in September as mortgage rates rose, with pending sales down 40% from the same month last year, according to a Phoenix Realtors report published Oct. 8. The region’s median sale price was $475,000. Completed sales declined 5% year over year, and new listings fell nearly 4%, the report found. The figures point to a market where many prospective buyers are holding off even as conditions vary by city. Phoenix had a median sale price of $485,000, down from more than $500,000 a year earlier. New listings there increased 2%, but completed sales fell 5% and pending sales dropped 37%. Gilbert recorded the steepest decline in pending sales among the cities highlighted, at 45%. Its median price was nearly $600,000. New listings climbed 10%, while completed sales fell 13% — a mismatch suggesting more owners were putting homes on the market even as fewer transactions closed. Scottsdale moved in the opposite direction. Completed sales increased 2%, new listings rose 3%, and the median price climbed from $1.2 million to $1.25 million. The report noted that higher-end buyers may be less affected by mortgage rates. Mesa’s median was $488,000, with completed sales down and pending sales off 43%. In Surprise, prices were unchanged from a year earlier and remained below the metro median; completed sales fell 9% and pending sales dropped 34%. Avondale was the most affordable city in the report, with a median price of $419,000. Completed sales fell 17%, pending sales declined 35%, and new listings edged up slightly. The data shows a broad slowdown, but not a uniform one: Scottsdale continued to gain while several other Valley cities saw substantial declines in buyers under contract. Rising borrowing costs can make monthly payments more expensive, adding pressure for households already facing high home prices.