Phoenix Builders Offer Record Incentives
Metro Phoenix homebuilders are offering record incentives averaging over 60000 dollars as high interest rates slow the local housing market. Most packages feature mortgage rate buydowns and closing cost assistance to attract hesitant buyers.
Insights:
Phoenix-area homebuilders are offering an average of more than $60,000 in lowered costs per house, the highest incentive level since the Great Recession. Higher interest rates and cooling demand across the United States have slowed the metro housing market, pushing developers to discount new properties. Investors tracking the housing sector face shifting affordability metrics as builders lean heavily into mortgage-rate buydowns.