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

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. 

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.

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.

Sales rose 9.5% from January to a seasonally adjusted annual rate of 4.38 million.

A $54 million estate tops the most expensive new listings in Arizona.

Roughly 2.8 million millennials moved across state lines in 2022 — and a huge chunk of them moved into Arizona, according to a report from StorageCafe.

The median existing-home price for all housing types was $379,100, up 5.1% from $360,800 a year before.       

With a household renter income of $86,236 annually and an average monthly rent of only $1,781, renters in Surprise spend only a fraction of their income on housing.

Single-family home sales prices increased in 189 out of 221 metro areas analyzed, with the median single-family price in the country rising 3.5% year over year to $391,700.

A Paradise Valley estate with a $29 million price tag tops the ranking of the 10 most expensive new listings in Arizona.

Pending home sales rose 8.3% month over month, the National Association of REALTORS® said, marking the largest monthly jump since 2020. 

Declining interest rates spurred the increase. 

At the same time, the median sales price rose 4.4% to $382,600. 

The NAHB/Wells Fargo Housing Market Index (HMI) rose seven points to 44, its second monthly increase in a row.