It’s a buyers’ market.That was the message at Arizona’s first new-home live auction on Sunday, where first-time home buyers, retirees, families and investors went head to head to snatch up discounted properties in Buckeye and Flagstaff.

The tempo was fast: 37 homes in the Verrado and Flagstaff Ranch communities were sold in less than two hours. The mood? A bit jittery.

For many in a crowded ballroom at the Westin Kierland Resort, it was their first time at a live auction. They arrived looking for a steal, but skeptical. Would they luck out or leave with nothing?

Auctioneer Dean Cullum laid the ground rules and held a practice round of bidding, encouraging the skittish auction newbies to hold up their brightly colored cards.

“You are the marketplace,” Cullum told them. “You are going to determine what the homes are worth.”

Several homes sold for about $100,000 less than the previous asking price. There were good deals but not very many great deals, visitors said.

Arizona Republic