The median price of a new home sold during the month was also up, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Sales slid 1% compared to August, the National Association of REALTORS® said. 

It was the only Arizona postal code to make the rankings.

A household would need a salary of $108,919 per year to be comfortable in the Phoenix, a new study determined.

Multifamily starts, meanwhile, declined, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.    

October’s increase comes as inflation slows and mortgage rates decline. 

At the same time, the median-sales price declined from August, according to the RE/MAX National Housing Report. 

Nationally, the housing market has dipped into neutral territory for the last three months.

The year-to-date numbers for all residential properties show listings are up, sales are down and pricing has increased slightly.

The amount a homebuyer needs to earn to afford a median priced starter home is down 0.4% from last year, marking the first annual decline since August 2020.

Realtor was the most desirable job in 49 of the 50 states, the study found.

The latest reading of the National Association of REALTORS® Pending Home Sales Index shows a return to month-over-month growth after a decline in July.    

Homebuying has just become more affordable for the first time since 2020, according to a new Redfin report.

The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

The 2.5% decline followed a 1.3% increase in July, according to the National Association of REALTORS®. 

Pricing in Maricopa County is largely flat, year over year.