Right Now’s the Time to Buy in Phoenix: Here’s Why the Market Favors You

After years of red-hot demand and limited inventory, the Phoenix Metro real estate market has shifted. The balance of power has quietly tilted back toward buyers. For those who’ve been waiting for the right time to make a move—whether that’s a primary residence, a second home, or an investment property—this window offers some of the best opportunities we’ve seen in years.

Unlike the frenzy of 2021–2022, today’s buyers can negotiate, inspect, and compare without pressure. Sellers are adjusting expectations, price reductions are becoming common, and builders are eager to move standing inventory before year-end. In other words: leverage has returned to the buyer.

Why It’s Officially a Buyer’s Market

Across much of Greater Phoenix—Buckeye, Goodyear, Surprise, Peoria, Chandler, Gilbert, and Queen Creek—the supply of homes now outpaces demand. Sellers are sitting longer, especially those with homes that need updates or aren’t priced perfectly.

This shift creates negotiating power not seen in years. Buyers today can:

• Ask for closing cost credits or seller concessions

• Request repairs or price adjustments after inspections

• Take time to compare and analyze—not compete blindly

• Explore off-market or builder inventory with exclusive incentives

The best deals often come from motivated sellers—those relocating, carrying two mortgages, or already under contract on another home. These sellers are realistic and ready to negotiate, making this a perfect moment for strategic buyers.

Move-In Ready vs. Opportunity Homes

The majority of active buyers in today’s market are looking for move-in-ready homes—updated flooring, neutral paint, modern kitchens, and finished backyards. That focus has created an opening for buyers who can see beyond cosmetic work and recognize potential.

Homes needing light updates or cosmetic improvements often linger on the market, leading to multiple price drops. These are the quiet value plays—the homes where equity can be built through simple improvements like flooring, lighting, and landscaping. With patience and vision, buyers can capture instant upside in properties others overlook.

Desperate Sellers and Price Adjustments

It’s not uncommon to see homes dropping $10,000, $20,000, even $50,000 after sitting for weeks. Some sellers need to relocate for work or close on their next purchase. Others are investors looking to offload before year-end for tax reasons.

This dynamic creates real-time negotiation leverage for buyers willing to act. A strong offer—especially one with shorter contingencies or solid financing—can often secure a great deal below list price. This is not a market where you need to chase; it’s one where you can lead with strategy.

New Construction: The Most Underrated Opportunity

Builders across the Valley—from Buckeye’s Teravalis and Verrado to Goodyear’s Estrella, Peoria’s Vistancia, and Gilbert’s Morrison Ranch—are sitting on a substantial amount of inventory homes. To keep sales momentum and close out fiscal quarters, many are offering extraordinary buyer incentives rarely seen in a balanced market.

These incentives can include:

• Interest rate buy-downs as low as 3.99% to 4.99%

• Thousands in closing cost credits

• Fully landscaped backyards

• Appliance packages or upgraded finishes

• Flexible move-in timelines

For buyers, this translates into instant savings and long-term value. Builders are motivated to sell, and when combined with lower competition from other buyers, it’s one of the best ways to secure a home that’s modern, energy-efficient, and under warranty—all while minimizing out-of-pocket costs.

Short-Term Rentals and Vacation Homes: A New Wave of Opportunity

One of the most overlooked opportunities in today’s Phoenix market is within the short-term rental (STR) and vacation home segment. Over the last few years, the Valley saw an explosion of Airbnb and VRBO properties across Scottsdale, Paradise Valley, and the West Valley. Many of those homes performed well during peak travel years—but the landscape has changed.

Some STR owners are now facing higher holding costs, increased regulation, or simply less demand than expected. As a result, many are opting to sell—creating a rare chance for buyers to acquire turnkey vacation rentals at discounted prices.

These properties often come fully furnished, with proven rental histories and existing bookings in place. For investors and lifestyle buyers alike, this presents multiple paths:

• Purchase an established vacation rental and continue operations for immediate cash flow

• Buy an underperforming rental and reposition it with better marketing or experience-driven design

• Convert a former STR into a primary or second home at a reduced price

To be candid, many owners and operators never treated these properties like true businesses. They assumed that simply posting on Airbnb would generate consistent bookings and strong revenue—but that approach rarely works in today’s environment. Success in short-term rentals requires strategy, systems, and professional insight. With an advisor like me, I help clients build high-producing properties, optimize pricing and occupancy, and approach their STRs with the same intentionality as any profitable business.

For those with long-term vision, this segment offers a unique blend of lifestyle and income potential. As tourism and major events (like Super Bowl rotations, golf tournaments, and spring training) continue drawing visitors, Phoenix remains one of the nation’s most resilient short-term rental markets—especially for properties with strong amenities and professional management.

Investor and Relocation Opportunities

Investors and relocating buyers should take special note of this cycle. The combination of softened resale prices and aggressive builder incentives means you can buy below replacement cost in several submarkets. Rental demand across the Valley remains strong, especially for well-located homes in growth corridors near new employment hubs like TSMC, Microsoft, Amazon, and Banner Health.

For those moving from higher-cost states, the Phoenix Metro continues to offer remarkable value per square foot, lower property taxes, and no state tax on Social Security income—making the long-term economics even more compelling.

The Bigger Picture: Timing and Leverage

Real estate wealth is built during windows like this—when uncertainty keeps others on the sidelines. The same market conditions that make sellers uneasy are what create once-in-a-cycle buying opportunities for those who stay informed and act strategically.

Waiting for perfect timing often leads to missed opportunities. Prices and rates may fluctuate, but the ability to negotiate, choose the right home, and capture value before the next market upswing is what separates the opportunistic from the reactive.

Final Thoughts

The Phoenix Metro is once again a market of possibility. It rewards buyers who think like investors, see potential where others see imperfection, and understand the value of negotiating from a position of strength.

Between price reductions, motivated sellers, and builder incentives that dramatically reduce total cost of ownership, there’s a narrow but powerful window for those ready to act. Whether you’re looking for your first home, upgrading, investing in a vacation rental, or building an income portfolio, this is the market where smart buyers win.

Ready to Explore Your Options?

Every buyer’s situation is different—from timing and financing to lifestyle goals and tax strategies. If you’d like to review your personal scenario and explore the best opportunities available across the Phoenix Metro, schedule a private consultation to discuss your goals and map out a strategy that fits you.

Let’s uncover where the numbers, incentives, and opportunities align for your next move.