The housing market in Phoenix is showing signs of shifting, providing a potential opportunity for homebuyers. According to Tina Tamboer of the Cromford Report, metrics indicate the Valley is leaning toward a buyer’s market, especially in certain submarkets. Inventory has been steadily climbing while demand remains relatively soft, giving buyers more leverage in negotiations. Although home prices haven’t dropped significantly, sellers are increasingly offering concessions or being more flexible on pricing to close deals.
Experts suggest that while the overall Phoenix metro area is still balancing between a seller’s and buyer’s market, specific cities like Maricopa and Buckeye are already buyer-friendly. On the other hand, popular areas like Chandler and Gilbert continue to experience strong demand. As mortgage rates remain elevated, many buyers are cautious, but the gradual increase in available listings could make this summer a strategic time to consider purchasing a home.
Read more on Arizona home prices.
