After an extended period of soaring prices and intense competition, home buyers are finally gaining leverage in the Phoenix housing market. The shift comes as more properties become available and elevated mortgage rates cool down the demand, resulting in the highest housing inventory seen in years. As a result, buyers now have greater bargaining power, including the ability to negotiate prices and request concessions on deals—an opportunity that was rare during the market’s recent frenzied peak.
Experts note that sellers can no longer expect bidding wars or offers far above asking price, with the market in Phoenix resembling more traditional patterns than in the past few years. Although affordability remains a challenge due to high interest rates, the increased selection gives buyers more options, signaling a more balanced market for the first time since the pandemic housing boom.
Read the original Arizona home sales article.
