Is Maricopa County Shifting to a Buyer’s Market?

By Rebecca Durfey

Rebecca Durfey brings over 20 years of experience in real estate transactions within Maricopa County. Despite managing multiple clients simultaneously, her primary focus is to provide a personalized experience that makes you feel like her sole priority. Rebecca and her team are dedicated to efficiently achieving the desired outcomes for each client they serve.

If you have been watching the market and wondering whether it favors buyers or sellers right now, you are probably wondering if the market is shifting. I often see a lot of people ask the same question because they want to know if now is the right time to make a move. The answer depends on a few factors, but here is what we are seeing in Maricopa County today:

We are in a buyer’s market. There is no doubt that we are in a buyer’s market. Inventory levels are high as of April 1st with around 25,000 active listings and that is the most we have seen in a long time. While this is not a repeat of the 2008 housing crisis, where inventory reached over 50,000, it is still a significant shift from the strong seller’s market we experienced in recent years.

Right now, there are 24% more homes on the market than there are active buyers. This gives buyers the upper hand because they have choices that they can leverage to negotiate better deals.

What does this mean for sellers? Sellers need to be strategic because there is a lot of competition in the market. Homes that are priced appropriately, show well, and are in solid condition are still listed. However, many buyers are offering below the asking price. They are requesting repairs, asking for seller concessions, and expecting move-in ready homes. Sellers who are not prepared for this level of negotiation may face longer days on market and lower offers.

It is essential to understand where we are within the broader market cycle. Right now, most zip codes in Maricopa County fall somewhere between stage 3 and stage 5 of a five-stage buyer’s market. That means buyer expectations are higher, and competition among sellers is stronger.

Buyers are still purchasing homes. Despite the shift, transactions are still happening because people continue to buy and sell homes for personal reasons. These include major life transitions or what I often call the “Ds”:

• Divorce
• Death
• Diploma (career or education changes)
• Diapers (expanding families)
• Downsizing
• Debt

These are real-life drivers of home sales. They exist in every market, and they keep demand steady—even when conditions are more favorable to buyers.

If you are thinking about selling, preparation is key. Your home needs to stand out and pricing should reflect current market conditions. You also need to ensure the presentation and condition of your home is strong. If you want to understand what your home is worth, or need a strategy to sell in today’s environment, feel free to call or text me at 623-297-4536 or email me at rebeccadurfey@kw.com. I would be glad to walk you through what we are seeing and how to position your home for success.