Homebuyers in Phoenix are starting to gain leverage in the housing market after years of tight inventory and rising prices. With more homes available and sellers showing greater willingness to negotiate, price cuts are becoming increasingly common. Rising mortgage rates have also contributed to a slowdown in demand, giving buyers time and bargaining power in a once highly competitive market.
Despite the shift, affordability remains a challenge due to still-elevated home prices and financing costs. However, experts say the Phoenix market is gradually becoming more balanced, with supply catching up to demand. As bidding wars cool and choices expand, buyers now have a better shot at securing a home that fits their needs and budget.
Read more about Arizona home prices.
