At the same time, the median sales price for a new home hit its highest level since 2022, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.   

In Phoenix, home prices posted a 2.09% year-over-year gain in December, while they slid 0.06% month over month. 

At the same time, builder sales expectations for the next six months posted their second-largest drop since the sentiment index started in 1985. 

These were the most expensive homes sold in Arizona last month, led by a sprawling $21 million estate in Scottsdale.

There’s a $25 million tie for the most expensive new listing in Arizona. Those two pricey properties hit the market during the past month.

On a city basis, Chicago posted the highest annual increase among the country’s 20 largest metros, followed by Miami, Las Vegas and Washington, D.C. 

The median existing-home price for all housing types in December rose 6% from its year-ago level.    

Gilbert ranks among the U.S. cities where housing inventory has grown the most since 2005, according to a report from StorageCafe.

Nationally, home sales were up 13.3% year over year and 4.4% month over month, RE/MAX said. 

Joan Levinson of Realty ONE Group handled three of the most expensive new listings in Arizona last month.

Radiance at Superstition Vistas was the top-selling master-planned community in Arizona last year, according to RCLCO Real Estate Consulting’s ranking of the top 50 master-planned communities of 2024.

In its last reading before the end of the year, the National Association of REALTORS®  Pending Home Sales Index posted its fourth consecutive monthly increase in November. 

The median-sales price slid from $425,600 in October to $402,600 last month. 

The year-over-year increase of 6.1% is the greatest since June 2021, according to the association. 

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.