The Best Time to Buy a House in Phoenix

By 

Clever Real Estate

Updated 

December 23rd, 2020

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Are you thinking of moving to the Phoenix area? When is the best time to make an offer an a house? How can a buyer’s agent help you find the house of your dreams?

Buying a house is a stressful and emotional process. You'll likely have to spend weeks touring properties, fill out hundreds of forms, and invest a large chunk of your savings to secure the right house.

One way to make buying a house easier is starting the process at the right time. In Phoenix, housing inventory, mortgage rates, and market trends vary from month to month.

For example, this year listing prices for homes in Arizona were lowest in May. On average, homes were $38,319 less expensive. While in November — the month with the highest prices — the listing prices were $41,822 more than the annual average.

In truth, the best time to buy a house really depends on your priorities and situation. Read on to find out which time of year will give you the most options and the biggest savings when buying a house in Phoenix.

Best Month For


Listing price
May
6.2% lower than average
Housing inventory
April
34.4% more homes to choose from
Mortgage rates
December
2.92% interest for 30-year mortgage
Realtor.com data (October 2020)
Bankrate data (December 2020)

If you're interested in buying a home, the first step in the home buying journey is getting preapproved by a licensed lender. Even if you’re already pre-approved, shopping around for lower rates can pay dividends over the life of the loan.

You can fill out the form below to be instantly matched with a licensed lender who knows the area and can guide you through the process.

The Best Time of Year to Buy in Phoenix

What a wonderful life it is that anyone with a computer can access data on the housing market in Phoenix. With just a few keystrokes, we can learn the following information about when to buy a house in Phoenix.

Phoenix is unique. While most metropolitan areas have an abundance of new houses listed in the spring, Phoenix has more new homes listed in January, March, and April. The months when there are the fewest new homes listed are July, November, and December.

Other data shows that the months where the most significant percentage of buyers purchase a home above the listing price are April, May, and July. The months where you are less likely to buy a home above the list price are October, November, and December.

What does this mean? Late fall is a great time to get a good deal on a home in Phoenix. Sellers may be motivated to move before the holidays, and you may not have to compete with as many other buyers that time of year.

The Best Places to Buy a Home in Phoenix

If you have lived most of your life in colder climates, you are probably ready to ditch your snow shovel and move to Phoenix. What neighborhoods should you visit? Here are five of the best suburbs of Phoenix in which to raise a family.

Gilbert

Known for its excellent public schools, this suburb is also known for being clean and safe with friendly residents.

Chandler

If you are a traveler, you may want to reside in Chandler, which is close to the Sky Harbor Airport. It also has excellent public schools, restaurants, and shopping.

Paradise Valley

Paradise Valley is a smaller suburb of Phoenix. Its population is close to 14,000. It has received very good ratings from its inhabitants, and the houses tend to sit on large lots.

Litchfield Park

This tiny suburb is rich with history. It also has excellent public schools and is a great place to raise a family. It is also near a beautiful golf resort.

Scottsdale

Scottsdale has been described as a very livable city. It’s only 15 minutes away from Phoenix, and it has excellent public schools.

4 Ways to Get a Great Deal On a Home in Phoenix

1. Find a Great Phoenix Real Estate Agent

You may be an expert in making cherry pies or an expert at growing tomatoes, but chances are you don’t know much about the real estate market in Arizona. Find someone who does know the Phoenix area and will work for you as your buyer’s agent. Don’t try to buy a house alone.

2. Assess Your Needs and Lay Out Your Goals

Your buyer’s agent will assess your needs and ask you the right questions to help you narrow down where you would like to live in the Phoenix area. He or she will work with your family’s budget to narrow down the plethora listings.

3. Find a Lender and Secure Financing: 

Unless you plan to buy your home with cash, you'll need to apply for a mortgage. For most home buyers in Phoenix, interest rates are among the biggest factors when choosing a lender. Doing a little upfront research and comparing options to find the best rates could save you tens of thousands of dollars over the life of your loan.

For example, in Arizona a typical house is worth $297,000. Assuming a 20% down payment, if you took out a 30-year mortgage for 3.5%, your monthly payment would be $1,060. But if you shopped around and found a 3% mortgage, your monthly payment would drop to about $1,002.

Getting a mortgage is a big decision – and it pays to shop around! Keep shopping until you find a lender with competitive rates who also understands your goals. Don’t get pressured into taking on a bigger loan than you’re comfortable with – work with a lender who explains what you’re really signing up for.

It’s easy to start your home buying journey – answer a few questions to get instantly matched with a lender who works in your area.

4. Negotiate for the Best Possible Price

Once you’ve chosen your dream property, your agent will help you make and submit an offer. They will then negotiate with the owner again following the home inspection to ensure you’re getting the best deal possible.

Are you ready to take the first step to move to the Phoenix area? Fill out this online form, and a Clever representative will be in touch to answer any questions you may have and connect you with a local Partner Agent for a no-obligation consultation.

Phoenix is waiting for you! Take that first step!

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