More buyers are touring homes and applying for mortgages as the 2024 housing market enters its home stretch, according to a new Redfin report.

According to a report from CashNetUSA, renters in Paradise Valley (specifically, the 95253 ZIP code) only need to spend 15.27% of their annual income on rent.

All homes were listed in the past 30 days. Note the tie for the ninth-most expensive listing.

Phoenix is the 56th-priciest rental market in the country, according to Zumper’s November National Rent Report.

Despite the new record in September, the rate of increase continues to slow. 

The new findings come from real estate tech strategist Mike DelPrete.

The increase follows two months of declines, the National Association of REALTORS® said. 

Multifamily construction, meanwhile, rose on a monthly basis. 

A $42 million ranch towers over the latest list of the most expensive new listings in Arizona.

Looking ahead, the CoreLogic Home Price Insights report predicts home prices will dip by 0.1% in October on a month-over-month basis.      

The S&P CoreLogic Case-Shiller U.S. National Home Price Index hit a new record in August, marking the 15th month in a row of new highs. 

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. 

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.