text: i sold my house in phoenix 9 months ago and am renting as prices go down. how much longer should i wait to buy   homes in arizona (tucson and phoenix specifically) are sitting on the market longer these days.  many forclosures will be coming on the market as people's adjustable rate mortgages keep rising and they can't make their monthly payments. i would say wait a year to get a good deal, but the drawback to that is that rates will be higher then. you'll have to do the math to see which is a better decision.