Phoenix emerged as one of the top ultra-luxury markets in the first half of 2023, according to the 2023 Mid-Year Ultra-Luxury report from Compass.

The Phoenix-area city of Scottsdale ranked at No. 2 on RentCafe’s list — only 8% of children in the metro live under the poverty line, one of the lowest proportions of any big city in the nation.

Some places in the country have distinctly higher costs associated with the first year of homeownership.

Of survey respondents who made a wedding registry in the past two years, 85% said they would have preferred to receive money they could have used towards a down payment, mortgage payment or other associated homebuying costs.

Builders could, in theory, start building over 32,000 apartment units immediately: 363 vacant plots around the area are already zoned for multifamily construction.

The industry group issued its housing-market forecast along with its monthly Pending Home Sales Index for June. 

Virginia is not the only state for lovers — two Arizona cities rank as some of the best places for newlyweds to start their lives together.

The Valley of the Sun ranks No. 8 in the country when it comes to housing development over the past 10 years.

Arizona is one of the states with the highest proportion of new listings, according to a report from Los Feliz.

Back in 2018, Freddie Mac stated that the country still needed about 2.5 million extra homes in order to meet demand. Then the pandemic homebuying boom depleted already-low inventory levels and high mortgage rates in the second half of 2022 chained many homeowners to their existing low rates.

The median existing-home price for all housing types in June rose to $410,200, 0.9% less than the all-time high of $413,800 reached in June 2022, the National Association of REALTORS® said. 

Low inventory and high demand are buoying builder sentiment in the face of several headwinds. 

The drop in the pace of new-home construction follows a significant surge the month before, according to government statistics. 

For the first time in nearly a year, the average home sold above list price, fueling bidding wars in some markets.

As more owners continue to hang onto their houses, home values locally and across the nation have reached a new peak, but it comes at a cost.

A majority of the most expensive new listings added to the Arizona Regional Multiple Listing Service in the past month are located in Scottsdale and Paradise Valley.