By the Numbers
The 2.5% decline followed a 1.3% increase in July, according to the National Association of REALTORS®.
Specifically, prices rose 4.3% annually after growing by 4.7% in June.
July’s seasonally adjusted annual rate of 739,000 represented a 10.6% jump from June’s upwardly revised rate of 668,000.
The pace of home sales increased 1.3% from June after months of decreases, the National Association of REALTORS® said.
The National Association of REALTORS® said its Pending Home Sales Index rose 4.8% month over month.
Two new-construction homes in Paradise Valley top the list of the 10 most expensive new listings in Arizona.
Arizona ranks as one of the U.S. states with the lowest overall energy costs, meaning major savings for Arizonans.
The record-breaking sales price comes as the pace of transactions slid from April, the National Association of REALTORS® said.
For the second month in a row, RETSY agent Lisa Westcott is responsible for the most expensive new listing in Arizona.
The S&P CoreLogic Case-Shiller U.S. National Home Price Index has hit a new record for six of the last 12 months, as demand remains strong in the face of tight inventory.
Many of the U.S. neighborhoods with the least expensive property fees are in the Phoenix area, with the lowest fees in the country seen in DC Ranch in Scottsdale.
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.