Metro Phoenix Housing Market Update: Why Buyers Have More Leverage Right Now

As we move toward the end of the year, the Metro Phoenix housing market is presenting buyers with a unique opportunity. With rates holding steady and seller activity shifting, conditions are lining up in a way we have not seen for some time.

Below is a clear breakdown of what is happening in today’s market and why this moment may be worth paying attention to if you are considering buying a home.

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Rates Are Holding in the Low Sixes

Mortgage rates are currently steady in the low sixes, which has helped improve overall purchasing power. Lower monthly payments and improved affordability give buyers more confidence when exploring their options.

For many homebuyers, even a small rate improvement can make a significant difference in long-term cost and overall budget flexibility.

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Sellers Are More Open to Negotiation

With the average Days on Market now around ninety days, sellers are becoming more realistic and more open to thoughtful negotiation.

This change is especially important in a market like Metro Phoenix, where competition has been intense in previous years. Buyers who may have struggled to compete earlier in the year are now finding more room for conversations around price, terms, credits, or repairs.

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More Sellers Than Buyers

As inventory increases and buyer activity softens heading into the holidays, we are seeing more sellers than buyers in many parts of the Metro Phoenix Area.

This shift creates advantages for buyers, including:

• More selection
• More leverage
• Less pressure to rush
• Better conditions for due diligence
• Increased negotiation power

These opportunities do not typically last long. Historically, the market resets in January as buyer activity increases again.

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A Strategic Window Before the January Reset

Every year, the Metro Phoenix market experiences a seasonal uptick in activity at the start of the new year. More buyers return to the market, competition increases, and negotiation strength shifts.

Right now, however, buyers have time, leverage, and favorable conditions on their side.

If the right home came on the market today and it made financial sense, this may be the best time to explore options before the annual reset.

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Need Guidance? I’m Here to Help.

Whether you are ready to start touring homes or simply want clarity based on your specific goals, I am here to help you understand your options with real data and a clear plan.

Call or text Michael Hankerson at (602) 770-7205
Hankerson Team | Luxury Division
First Link Mortgage NMLS# 2664119
www.HankersonTeam.com