By the Numbers

The 10 most expensive new listings in Arizona

A majority of the most expensive new listings added to the Arizona Regional Multiple Listing Service in the past month are located in Scottsdale and Paradise Valley.

CoreLogic: Home prices rise again in May, but pace falls to 11-year low 

Despite the declining rate of increase, home prices have risen for the last 136 months, CoreLogic said. 

It takes more than 11 years to save for a down payment in Phoenix

It takes the average Phoenix resident 11 years to save up for a 10% down payment on a home, according to a recent Axios analysis.

NAR: Pending-home sales dip in May as demand remains strong 

Transactions that do go through are typically seeing multiple offers, NAR Chief Economist Lawrence Yun said. 

Case-Shiller: Home-price index just 2.4% off 2022 peak; Phoenix sees 6.1% decline 

A third consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index lends new evidence to claims that previous declines could be behind the market. 

New-home sales surge in May 

Demand for newly built homes has remained strong as high interest rates keep many would-be sellers of existing homes off the market. 

Phoenix house flippers sold at a loss during first quarter

For the typical U.S. flipped home during the first quarter, gross profits only amounted to $56,000, down 20% from the fourth quarter of 2022. That’s not including any renovation costs.

NAR: Existing-home sales tick higher in May 

At the same time, the median existing-home price for all housing types slid 3.1% year over year to $396,100. 

Single-family home starts jump in May 

The larger-than-expected increase comes as homebuilder sentiment rose for the sixth month in a row. 

The 10 most expensive new listings in Arizona

Curious about luxury listings in the state of Arizona?

Phoenix sees year-over-year decrease in new listings

Phoenix is one of the markets with the largest year-over-year decreases in new listings, according to the latest RE/MAX National Housing Report.

Case-Shiller: Home-price declines ‘may have come to an end’; Phoenix sees 0.5% gain

A second consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index could indicate a reversal of the negative trend that began last year. 

NAR: Limited supply keeps pending-home sales flat in April 

Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales. 

New-home sales rise for fifth month in a row 

A shortage of existing inventory continues to drive buyers to new construction. 

NAR: Existing-home sales and days on market slide in April 

Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.

Single-family starts rise in April 

Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market. 

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