After a slow spring, summer brings favorable conditions for buyers in the South and West. Key indicators like price reductions in listings highlight markets like Phoenix, where nearly a third of homes offered lower prices in May. Active listings surged 23% year over year, providing options for buyers. Tampa and Denver are also showing improvements, with significant shares of discounted listings and extended sale timelines, allowing buyers more negotiating power and choices compared to recent years.
According to the latest available data from Realtor.com®, in May 2025, close to a third of all listings in Phoenix came with price reductions to attract reluctant would-be buyers.
"A growing number of for-sale homes in some markets is helping to rebalance the market, giving buyers more negotiating room than they've seen in several years," says Realtor.com Chief Economist Danielle Hale.
In May, homes in Phoenix spent a median of 58 days on the market, which was seven days slower than the national median.
The Florida metro saw its percentage of listings with discounts climb to 29.9% in May, contributing to a more buyer-friendly environment.
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