Top 3 Concerns Phoenix Homebuyers Have for 2026

Are you unsure whether now is the right time to buy a home or worried about paying too much? These are the questions buyers and sellers are asking the most right now. I speak with people every day alongside my business partner, Andrew Weingartner, and across hundreds of weekly conversations, the same uncertainty keeps coming up.

With varying headlines about interest rates and market shifts, it’s hard to know what actually matters. That’s why today, we’ll cover the questions buyers are asking the most, what’s going on in the market today, and how to think about your plans for 2026.

Here are the three questions we hear most from buyers:

1. “Did I overpay?” One of the most telling examples Andrew shared was about a client who is already under contract. Inspections were completed, negotiations were done, and the appraisal had already come in. The client was less than two weeks away from closing and still asked, “Did I overpay?”

In that situation, the home was appraised for more than they agreed to pay, which gave them peace of mind. But it highlights how widespread this fear is. Even buyers who are already deep into the process are still questioning whether they made the right decision.

2. “What is it like as a buyer in the current market?” A common misconception is that buyers think this is a buyer’s market everywhere. In some areas, like Casa Grande, Buckeye, San Tan Valley, and parts of Queen Creek, there’s more supply than demand, giving buyers more leverage. In other areas, such as Chandler, Gilbert, Scottsdale, and Fountain Hills, the market is still strong and often favors sellers.

For buyers concerned about interest rates, one strategy is a seller concession for an interest rate buydown, such as a 2-1 buydown. This temporarily lowers your rate for the first two years, making initial payments more manageable. For example, a 6.25% rate could drop to 4.25% in the first year and 5.25% in the second year, before returning to 6.25%. If rates decrease in the future, funds from the buydown can sometimes be applied toward the principal when refinancing. It’s not right for everyone, but it’s a tool worth considering.

Understanding the local market and your options is critical because conditions vary widely depending on where you’re buying.

3. “What is happening in the Phoenix real estate market?” Phoenix often leads market trends, with local adjustments occurring before other cities experience them. Recent discussions with a professional loan officer highlighted that while some articles suggest the market could bottom out, Phoenix tends to act as a front-runner.

Market corrections have already been seen, and prices are holding steady. While the future cannot be predicted, it appears the local market has absorbed much of the adjustment rather than being on the verge of another major drop.

Mortgage rates, which generally follow bond yields, strongly influence buyer and seller activity. Currently, many buyers are ready to move but are waiting for rates to drop. If rates decrease even slightly, a surge of buyers coming off the sidelines is likely, along with sellers on low-interest mortgages finally motivated to move, whether to downsize, upsize, or make a lifestyle change.

Phoenix continues to act as a trendsetter, and understanding these local patterns is important for anyone planning a move.

2026 market outlook. While the future cannot be predicted with certainty, early signs suggest increased market activity in 2026. If mortgage rates come down, buyers who have been on the sidelines are likely to start moving, including first-time buyers, move-up buyers, and those looking to downsize.

Transaction activity in 2025 was among the lowest in recent years, but recent trends indicate a shift. Interest from buyers and sellers is increasing, and some large teams are already reporting a noticeable uptick in contracts and market activity. Lower rates could further accelerate this momentum, creating opportunities for both buyers and sellers.

What this means for buyers and sellers. If you’re thinking about buying or selling, the most important step is getting clear on your situation. Instead of relying on headlines or guesswork, take a moment to see where you stand and what your options are.

A quick conversation with a real estate professional can help break things down, answer questions, and give you the confidence to make decisions that really matter for your future.

First-time buyer concerns. There’s a lot of concern among first-time buyers, especially around rates and upfront costs. One option gaining attention is new construction. Builders offer a variety of communities and often provide interest rate buy downs, either short-term or long-term, and cover most or all closing costs.

For first-time buyers, this means the main out-of-pocket expense is usually just the down payment, often around 3% to 5%. Combined with lower initial payments and a brand-new home, this can create a strong opportunity for buyers entering the market.

If you’re thinking about making a move in 2026, now is the time to start planning. Whether you’re buying your first home, selling a property, or considering a move-up or downsize, reach out at (480) 327-8092 or email kevin@langanteam.com. We’d be happy to walk through your options, answer any questions, and help you make a plan that fits your goals.