Michelle Borrelli Realtor

ARIZONA BUILDERS ARE ABOUT TO PULL BACK INCENTIVES — AND THE WINDOW MAY CLOSE BY JUNE.
Usually the spring market is booming, but this year it’s been slower than expected. Builders are selling fewer homes per community than normal for this time of year, and there are over 4,000 inventory homes sitting in builder communities across the Phoenix metro.
What does that mean for buyers?
Builders are still offering rate buy-downs, closing cost incentives, and deals to move inventory — but they’ve already started scaling those back, and some builders say June is when incentives will be pulled back significantly, even on homes that aren’t finished yet.
One builder even said he has 16 homes he wants gone fast.
Mortgage rates are currently averaging around 6.38%, and while we probably won’t see 2–3% rates again anytime soon, builders have been buying rates down into the 3–5% range — which can save buyers hundreds per month. But those programs have been expensive for builders, and they won’t last forever.
What this means:
There is still inventory
Builders are still motivated
Incentives are still available
But the timeline is short
If you have been thinking about buying a new build, the next 60 days may be one of the best opportunities we see this year.
Message me if you want to see which builders currently have the best incentives and inventory.
— Michelle Borrelli

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