Metro Phoenix home sellers are pushing back against buyers 'drunk with power'

By: Catherine Reagor

More metro Phoenix home sellers have grown tired of demands from buyers and have given up.

The number of canceled home listings is on the rise in the Valley as buyers continue to insist on lower prices, expensive remodel projects and interest-rate buydowns.  

Trevor Halpern of Halpern Residential at eXp Reality said 35% to 40% of his sellers are pulling their listings if buyers won't give them the price they want.

“Sellers who don’t need to sell and feel like they are getting beat up in the market are deciding to cancel listings,” he said.

During the past few months, about 30% of Phoenix-area homes listed for sale were called off by homeowners, according to the Cromford Report.

The Valley’s housing market shifted to buyers late last year as listings climbed and buyers, who were uncertain about the economy and weary of climbing interest rates, sat on the sidelines.

In addition to home sale cancellations, price drops and concessions are increasing too.

Phoenix housing market 'disheartening and discouraging' for sellers

Valley home listings shot up last year and earlier this year but are now down by about 3,000 from May. That could signal a swing in the market back in the direction of sellers.

Sellers like Brandie Henderson are still waiting to see that happen, and she's running out of patience. Henderson listed her three-bedroom renovated north central Phoenix home over the summer for $875,000. That’s its appraised value.

The modern house has two bathrooms, a large kitchen island, an imported tile backsplash and oak hardwood floors.

To entice buyers, she took her real estate agent’s advice and lowered her price a few times to $785,000.

“It’s disheartening and discouraging to be told your home is worth less than what it appraised for,” said Henderson, who had listed the home with a friend but recently changed agents and relisted her home with Halpern because it wasn’t selling.

Her home is still on the market.

Tina Tamboer, senior housing analyst with The Cromford Report, said buyers are getting their revenge from years of sellers having the upper hand. They are asking homeowners for a lot more than mortgage buydowns and basic repairs to close a deal.

She has heard from real estate agents that buyers want everything from repainting houses to replacing working air conditioners and renovating kitchens.

Henderson doesn’t want to list her home past January and doesn’t want to lower the price again.

How long will buyers' market last for home sales in metro Phoenix?

Metro Phoenix’s housing market data explains why buyers are still going for big asks with homeowners.

More than half of all home sales in the region included concessions during the first nine months of 2025, according to Cromford.

“The housing market stayed in buyer-friendly territory (in August)," said Paridhi Saboo, data analyst with the Information Market owned by the Arizona Regional Multiple Listing Service.

Final Thoughts:
As metro Phoenix’s housing market stays buyer-leaning, more sellers are choosing to pull listings rather than give in to deep concessions or price cuts. With 30% of listings canceled and over half of all home sales involving concessions, sellers are feeling the pinch of a market correction. Still, as inventory begins to dip again, a gradual shift back toward a balanced market could emerge heading into 2026. Patience — and pricing strategy — will be key for sellers in this changing environment.