The pace of home-price growth rose nationally but with significant regional differences.

Nationally, home sales in the 46 metro areas surveyed by REMAX rose 2.5% year over year and slipped 5.7% month over month. 

Active buyers are looking for more expensive homes, while price-constrained buyers are looking at fewer homes altogether.

Of the 50 metro areas surveyed by NAR, several stood out for year-over-year gains in contract signings. 

The move was an improvement over July, but sentiment still remained in negative territory. 

The two most expensive homes sold in Arizona last month are located on the same street in Paradise Valley.

Looking ahead, Cotality expects the median price of a home to increase 1.5% through June 2027. 

With strong sales in four Phoenix-area communities, the metro accounted for 6% of all sales in RCLCO’s Top 50.

July’s roundup of the most expensive new listings in Arizona contain treasures like an underground shooting range, a 26-car collector’s garage and a glass elevator.

Nationally, home-price growth topped 1% for the first time in 2026.

The seasonally adjusted annual rate of 628,000 homes topped Wall Street’s estimates. 

Given Arizona’s average home size, buyers in the state pay an average price per square foot of $303.

The triennial survey of 2,000 American residents from the 50 largest metropolitan areas, the National Association of REALTORS® Community and Transportation Preference Survey, found buyers and residents prefer more housing options and communities designed for easy access.

Nationally, home sales in the 51 metro areas surveyed by REMAX showed measured growth of 8.9% month over month and 7.8% year over year, REMAX said. 

The annual and monthly declines of 0.3% and 5.4%, respectively, do not fully capture the geographic variability of market performance. 

A $12 million estate on Camelback Mountain leads the pack among the 10 most expensive homes sold in Arizona last month.