What’s Driving Buyer Activity in Phoenix Right Now

What’s Driving Buyer Activity in Phoenix Right Now

Buyer activity in Phoenix didn’t disappear over the past several months. It paused.

Throughout late summer and early fall, many buyers stayed engaged but cautious. They watched listings, tracked price adjustments, and revisited budgets without making firm moves. What changed recently wasn’t a sudden rush or a dramatic shift in pricing. It was clarity.

As uncertainty eased, including concerns tied to a potential government shutdown, buyer confidence returned. It almost seems like once the government opened back up, activity "soared." As a Phoenix Realtor, I noticed a "massive" uptick in buyer showings on my listings. I noticed more offers. I noticed more contingent offers (buyers needing to sell their homes). It's way too early to tell if this is the new trend but my hunch as a 25-year Realtor Veteran is it will. 

Here’s what’s driving buyer activity in Phoenix right now and how those shifts are playing out across the market.

Hesitation Didn’t Mean Disinterest

One of the biggest misconceptions about slower periods in real estate is that buyers leave the market entirely. In reality, many buyers simply change how they participate. Per the Cromford Report, towards the end of Q2 we were still selling 6000+ homes in the Phoenix area monthly. I think the peak was March of 2022 when we hit 10000. Who knows what normal is but it isn't too far off of 6k.

Over the past few months, buyers remained active in quieter ways. They checked out listings on Redfin, got ahold of lenders like Rocket to understand what was going on with mortgage rates, and if it was a good time to buy.  Many saved their favorites, waiting for whatever made them most comfortable. 

Then, when the shutdown ended, it seemed like that floodgate opened, and buyers entered in droves...especially for this time of year. Per Cromford, comparing year over year we are up about 300 per month so far. And 2 years ago was a whopping depressing low 4772 compared to the now 6052. That 4772 reminded me of '08--eek!

Monthly Payment Is Driving Decisions More Than Price

Today’s Phoenix buyers are far more payment-focused than price-focused. Instead of asking whether a home is a good deal at a specific list price, buyers are asking whether the payment fits comfortably into their lifestyle.

With rising costs period, let alone, insurance, maintenance, cost of living-we are seeing close to 75% of closed transactions with a successful negotiation of Seller's paying Buyer's closing costs. That figure could buy down a rate making a $500k home much more palatable with some discount points or whatever the Buyer determined was best to knock down their monthly payment.

This mindset has made buyers more thoughtful and, in many cases, more confident. When they do move forward, they do so knowing the numbers work for them. The result is fewer impulse decisions and fewer deals falling apart late in escrow.

Buyers Are Moving Faster Once They Decide

While buyers may be taking longer to re-enter the market, they are often moving faster once they commit.

For Phoenix homesellers, know this. You might not get 10+showings in a week or month. Buyers are doing far more research prior to walking through your door. Instead, expect a far more serious Buyer (usually) wanting to confirm their decision, rather than start to formulate one. It is very very common to get only a few showings, and of those, find that right Buyer. And for Buyers, take your time, do the research, and be ready to act when you find what you love and numbers align. 

Turnkey Homes Are Gaining a Clear Advantage

Another trend shaping buyer activity in Phoenix is a growing preference for homes that feel ready to live in from day one.

Let's face it. We all love deals. But with the rising cost of materials and labor, is getting a home 25k off list really going to be a deal for you? Sure, there are always possiblities. The reality is you might have your own tastes and they are different than the Seller's but is waiting for that discounted home to which you then will have to spend the cash on worth it? I would say usually not.

This doesn’t mean fixer-uppers no longer sell, but the buyer pool for those homes has narrowed. Turnkey properties reduce friction and risk, which resonates with buyers seeking stability.

Value-Driven Location Shifts Are Accelerating

Location decisions in Phoenix are also evolving. Buyers who once focused narrowly on areas like Scottsdale, might consider areas like Fountain Hills. With the development of TSMC, there is a ton of growth in North Phoenix.

That's not to say areas like Queen Creek, Buckeye and Surprise aren't growing. They are. But North Phoenix is one of the hottest spots right now. Want to learn about what it's like living in North Phoenix?  Visit Living North Phoenix, the area's #1 Community Website for all things North Phoenix; the best restaurants, things to do, school information, job opportunities and more.  They even have a FB Group.

Peoria is also part of North Phoenix depending on who you speak with. Learn about moving to Peoria and the best neighborhoods all right here

Lifestyle Questions Are Coming Earlier

Perhaps the most notable change in buyer behavior is when lifestyle questions come up in the process.

Buyers are asking about traffic patterns, school options, neighborhood character, and local amenities before they tour homes. They want to understand what day-to-day life looks like, not just whether a property meets their basic criteria.

This front-loaded curiosity leads to better decisions. Buyers who understand how a neighborhood fits their lifestyle are more confident and less likely to second-guess themselves later. It also explains why community-focused resources and local insight matter more than ever in the decision-making process.

This Isn’t a Surge. It’s Clarity.

The current increase in buyer activity across Phoenix isn’t driven by urgency or fear. It’s driven by clarity.

Buyers who paused during uncertain periods are stepping back in now that the picture feels more stable. They’re prepared, informed, and intentional. They know what they want, what they can afford, and where they’re willing to compromise.

From a local perspective, this moment reflects a healthier market dynamic. Decisions are slower at the front end and stronger at the finish. For buyers, that means fewer regrets. For sellers, it means understanding what today’s buyers truly value.

Phoenix isn’t experiencing a rush. It’s experiencing buyers who are ready to move forward when the timing feels right.

Considering a move to Phoenix? Want to learn more about the area? I put together a blog with everything you need to know about moving to Phoenix.

Q&A/FAQ

Are buyers really coming back into the Phoenix market right now?

Yes, but it doesn’t feel rushed. What I’m seeing is buyers who paused during uncertain months stepping back in once things felt more stable. They didn’t disappear. They waited. Now they’re touring again, asking better questions, and moving forward when the numbers make sense.

Did the government shutdown situation affect buyer activity?

For some buyers, yes. It wasn’t about politics. It was about uncertainty. Once the shutdown risk went away, a noticeable number of buyers felt comfortable restarting conversations and booking showings they had been putting off.

Are Phoenix buyers still worried about interest rates?

Rates are definitely part of the conversation, but buyers aren’t obsessing over the headline number as much as they used to. Most are focused on what the monthly payment looks like and whether it fits their lifestyle long term. If the payment works, they’re willing to move forward.

What kind of homes are buyers going after right now?

Homes that feel move-in ready are getting the most attention. Buyers are cautious about taking on projects and unexpected costs. Even if a home is priced a little higher, many buyers prefer something clean, updated, and predictable.

Where are buyers looking in Phoenix right now?

Buyers are widening their search. Instead of locking into one specific area, they’re comparing neighborhoods based on value, space, and day-to-day livability. Areas in North Phoenix continue to come up for buyers who want newer homes and a strong quality of life without the premium pricing of more central locations.