Phoenix’s ranking is due mostly to the city’s affordable rental market: residents only need to spend 34.5% of their income on monthly rent expenses.

The S&P CoreLogic Case-Shiller U.S. National Home Price Index has hit a new record for six of the last 12 months, as demand remains strong in the face of tight inventory.

Many of the U.S. neighborhoods with the least expensive property fees are in the Phoenix area, with the lowest fees in the country seen in DC Ranch in Scottsdale.

At the same time, the median price of a new home sold in April declined as well. 

The city saw a 32.7% annual jump in new listings in April, placing it third among the top 50 U.S. markets covered in the latest RE/MAX National Housing Report.

Buyers are finally getting some relief as mortgage rates dip below 7% for the first time in five weeks, according to a Redfin report. 

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

According to a new report from RentCafe, hotels have overtaken offices as the most likely spaces to be converted into new apartments.

Active inventory rose 46.6% in Maricopa County last month, according to the latest Market Update from Phoenix REALTORS®.

Agents from RETSY listed four of the 10 most expensive new listings in Arizona, including a $21.75 million estate in the Silverleaf Upper Canyon in Scottsdale.

Monthly home payments hit new records last month reaching an all-time high of $2,747, an 11% increase from last year.

Closed home sales decreased year over year in Maricopa County, according to the latest Market Update from Phoenix REALTORS®.

The priciest new listings in Arizona include a $15,000,000 stone estate with donated beams from the Hopi Nation and repurposed materials from a 15th century Spanish mission.

The state where home values have increased the most was Idaho, which saw a 171.03% increase in home values from 2013 to 2023.

In 2020, median renovation spending was $15,000. That amount increased by 60% in three years, with the median home renovation costing $24,000 in 2023.

Furniture retailer Joybird surveyed over 2,500 Americans and asked them to describe their dream living room.