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. 

CoreLogic expects prices to continue to grow through the year.

Nine of the 10 most expensive new listings in Arizona are located in Paradise Valley — including a luxury listing with a $50 million price tag.

A $20 million Paradise Valley estate tops the most expensive new listings in Arizona.

RentCafe analyzed apartment sizes in ZIP codes across the country to determine which areas give the typical renter the most bang for their buck.

The only region of the U.S. that didn’t experience an annual decline in existing home sales was the Midwest, where sales were unchanged year over year.

Paradise Valley is known as one of the priciest places to buy a home in Arizona — but did you know that the city has one of the most expensive ZIP codes in the country?