Phoenix, Tucson housing markets shift toward buyers
Arizona homebuyers gain negotiating power as the housing market shifts, but rising mortgage rates are making it harder to afford a home. Realtor.com has reported that Arizona homebuyers are gaining negotiating power as the housing market shifts towards buyers, while rising mortgage rates are making it harder to afford a home. Both Phoenix and Tucson metropolitan areas are classified as balanced markets moving towards buyers in the latest Realtorcom Market Clock report for the third quarter of 2026. The report indicates that the Phoenix-Mesa-Chandler and Tucson markets each received a reading of 4 o’clock on the Market Clock, placing them in the “late balanced, loosening” category. This shift aligns with a national trend of homebuyer gaining power as housing inventory, sales activity and contract trends shift the balance of power. However, higher mortgage rates have reduced purchasing power, potentially offsetting the benefits of greater flexibility. The national housing market moved from a 3 o clock reading in the second quarter to 4 o'clock in the third Q3, indicating a continued shift toward buyers. Despite this, affordability remains a top concern for shoppers, especially as mortgage rates above 7% limit how much home a fixed budget can buy. The Midwest remains the strongest region for sellers and the South has the most concentration of buyer’s markets.
ที่ตีพิมพ์ : 4 ชั่วโมงที่แล้ว โดย AZ Business Magazine ใน Business Finance
Arizona homebuyers are gaining negotiating power as the housing market continues to shift, but rising mortgage rates are making it harder to afford a home, according to a new report from Realtor.com.
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หัวข้อ: Real Estate
