The industry group issued its housing-market forecast along with its monthly Pending Home Sales Index for June. 

Virginia is not the only state for lovers — two Arizona cities rank as some of the best places for newlyweds to start their lives together.

The Valley of the Sun ranks No. 8 in the country when it comes to housing development over the past 10 years.

Arizona is one of the states with the highest proportion of new listings, according to a report from Los Feliz.

Back in 2018, Freddie Mac stated that the country still needed about 2.5 million extra homes in order to meet demand. Then the pandemic homebuying boom depleted already-low inventory levels and high mortgage rates in the second half of 2022 chained many homeowners to their existing low rates.

The median existing-home price for all housing types in June rose to $410,200, 0.9% less than the all-time high of $413,800 reached in June 2022, the National Association of REALTORS® said. 

Low inventory and high demand are buoying builder sentiment in the face of several headwinds. 

The drop in the pace of new-home construction follows a significant surge the month before, according to government statistics. 

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.

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

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.

Despite the fact that migration into Phoenix has slowed this year amid ultra-high mortgage rates, the metro still garners more out-of-town relocators than any other city in the country.

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

Scottsdale is one of the top cities for affordably priced apartments in thriving communities, according to a new report from RentCafe.

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. 

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