Buyers are finally gaining the upper hand in the Phoenix housing market, after years of soaring prices and fierce competition. According to recent data, home inventory in the area has significantly increased, giving buyers more choices and the ability to negotiate on price and terms. This marks a significant shift from the pandemic-era boom, when bidding wars and rapid sales favored sellers.
Experts suggest that the cooling market is the result of higher mortgage rates and more listings, which have combined to slow demand and keep prices from climbing unchecked. For prospective buyers, this means less pressure to make quick decisions and potentially better deals as homes spend more time on the market.
Read the original Arizona home sales article.
