How today’s homebuyers can regain negotiating power in cooling Phoenix market

Sammy Glassman

Submitted photo/Phoenix Realtors®

Now is a strong time for young buyers with financial flexibility to start building a real estate portfolio. … As for sellers, today’s market calls for realistic expectations, flexible terms and a willingness to meet qualified buyers in the middle. … Overall, this Phoenix market gives buyers a rare chance to negotiate from a stronger position.”

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OPINION — After a pandemic-fueled stretch of fierce competition and offers written under pressure, today’s Valley real-estate market finally is allowing homebuyers more time, choice and room to negotiate.

The Phoenix metro has entered what is among the most buyer-friendly markets of this millennium. Rather than the widespread foreclosures and short sales of the 2008 crash, this shift is being shaped by a slower pace that’s causing inventory to build and listings to sit longer.

That doesn’t mean every home is suddenly a bargain or sellers are out of luck, but the market has finally begun to favor practical, prepared buyers who act on the right opportunities.

Current market rundown

Year-to-date conditions are holding steady. The latest Phoenix Realtors® data shows closed sales continuing to rise despite a slight decline in pending sales and new listings.

• Inventory: Greater Phoenix had 21,816 homes for sale in May, the most seen in the past 12 months. It also had 4.3 months of supply, giving buyers more time to strategically weigh their options before making an offer.

• Demand: Buyers are active, with single-family home sales growing for 12 straight months and May closings up 4.6% from 2025. Yet many buyers remain cautious about rates and affordability, so those who are financially equipped and ready to move have an opening.

• Pricing: The year-to-date median sales price was unchanged at $485,000 across the metro, but days on the market increased from 72 to 79 days, marking a 9.7% increase. The housing affordability index rose to 73 from 71, indicating that more median-income households can afford median-priced homes.

• Concessions: Concessions are now reaching up to about 3% of the purchase price, which can support interest-rate buydowns and help offset prepaid costs like taxes, insurance, and cover lender and title fees. Sellers are becoming increasingly willing to take on repairs themselves, including major items, such as roofs and air conditioning systems.

Tips for today’s buyers

Successful negotiations still require buyers to balance their own wish lists with the sellers’ priorities. Whether that’s price point, faster closings, extra time to relocate or a leaseback, terms should create value on one side without sacrificing what matters most to the other.

Waiting for the perfect interest rate can come with risks, especially if the monthly payment works today. If rates drop and more buyers rush back into the market, sellers may have less reason to offer concessions or rate buydowns.

Move quickly, but not carelessly, when the right opportunity appears. No one can perfectly anticipate the market, so if buying doesn't fit your finances right now, wait. But if it does, this could be the kind of window that homebuyers regret missing, as inventory may tighten throughout the summer.

Now is a strong time for young buyers with financial flexibility to start building a real estate portfolio. If you're able to purchase beyond a primary residence, investment properties can create another path to long-term wealth, as long as the decision fits your budget, goals and timing.

Real estate is emotional. Buyers can quickly fall in love with a property, just as sellers may feel personally attached to their home. A Realtor® can help manage deadlines, explain options and keep negotiations focused on the bigger picture. Forgoing representation might seem like a way to save money in the short term, but it can cost homebuyers money, leverage, protection and peace of mind.

As for sellers, today’s market calls for realistic expectations, flexible terms and a willingness to meet qualified buyers in the middle. Homes are still selling, but pricing, timing, repairs and concessions now all play a role in getting deals across the finish line.

Overall, this Phoenix market gives buyers a rare chance to negotiate from a stronger position. It’s an ideal time to clarify priorities, structure smart offers and act before conditions shift again.

Sammy Glassman is president of the of Phoenix Realtors® Board of Directors, a trade association  serving more than 10,000 real-estate sales professionals in the Valley. Please submit comments at yourvalley.net/letters or email them to AzOpinions@iniusa.org. We are committed to publishing a wide variety of reader opinions, as long as they meet our Civility Guidelines.