More homes on the market should mean more confident buyers, right? Not necessarily.
Phoenix homebuyers finally have more options and greater negotiating power, but many are still hesitant to make a move. Meanwhile, sellers are adjusting to a market where even a full-price offer might not deliver the outcome they expect.
In this Arizona Monthly Housing Market Update, Katie Halle Lambert and Matthew Lambert with Team EvoAZ at eXp Realty and Ryan Gilliam with Your Best Mortgage discuss what's happening in the November 2026 Phoenix housing market, including mortgage rates, buyer hesitation, seller concessions, and what these changing conditions mean for buyers and sellers.
More Phoenix Homes, but Buyers Are Still Hesitant
Greater Phoenix has nearly 80% more active listings than in 2023, despite similar buyer demand. Homes are generally taking longer to sell, giving buyers more choices and time to consider their options.
However, more inventory hasn't eliminated concerns about affordability, mortgage payments, and financial uncertainty.
Mortgage rate changes are also affecting activity. Loan applications reportedly picked up as rates improved, highlighting how sensitive today's buyers are to financing costs.
Why a Full-Price Offer May Not Be the Best Offer
In today's Phoenix real estate market, sellers need to look beyond the purchase price. The episode highlights how seller concessions, closing costs, and mortgage rate buydowns can change the financial outcome of an offer.
For example, a $10,000 seller credit could potentially provide a buyer with greater monthly payment savings than a $10,000 price reduction, depending on financing details. Inspection negotiations also remain important. When unexpected repairs surface, disagreements between buyers and sellers can put transactions at risk.
Even comparable sales may not tell the complete story, since certain repair expenses and buyer broker compensation may not be visible in the reported sale information.
Buckeye's Proposed Growth and a Reminder for Homeowners
Looking beyond current market conditions, Buckeye is considering a major long-term development plan that could eventually include up to 130,000 homes across approximately 53 square miles.
The proposal reflects expectations for future West Valley growth, although development would occur over time and require additional approvals.
The episode also reminds Maricopa County homeowners to verify that their property taxes have been paid, even when payments are managed through a mortgage escrow account.
What Does This Mean for the Phoenix Housing Market?
More inventory is creating negotiating opportunities, but buyer confidence and realistic seller expectations remain essential to getting transactions completed.
Prefer to Watch Instead?
Why are buyers hesitating despite having more options? And why doesn't a full-price offer always mean a better deal for sellers?
Watch the full November market update for the discussion and real-world perspectives.
Have Questions About Buying or Selling a Home?
Whether you're buying your first home, selling your current one, or exploring your options, Team EvoAZ is here to help guide you through the real estate process.
Katie Halle Lambert & Matthew Lambert | Team EvoAZ
Text ConnectWithKatie to 480-508-9828
Have Questions About Your Mortgage?
Whether you're purchasing your first home, refinancing, or simply have questions about your financing options, Ryan is here to help.
Ryan Gilliam | Your Best Mortgage
Text ConnectWithRyan to 480-508-9828
Looking for homes in the Phoenix area? Text GetPhoenixDeals to 480-508-9828 to browse current listings and great opportunities.〰️Looking for homes in the Phoenix area? Text GetPhoenixDeals to 480-508-9828 to browse current listings and great opportunities.
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Looking for homes in the Phoenix area? Text GetPhoenixDeals to 480-508-9828 to browse current listings and great opportunities.〰️Looking for homes in the Phoenix area? Text GetPhoenixDeals to 480-508-9828 to browse current listings and great opportunities. 〰️
Disclaimer: This is based on a prerecorded market update. Real estate, mortgage, economic, and legislative conditions can change. The information provided is for educational purposes only and should not be construed as legal, financial, tax, or real estate advice. Consult the appropriate licensed professional regarding your individual situation.
