After five years of worsening, housing affordability has finally started to improve, according to a new Redfin study. 

With mortgage rates approaching 6%, 5.5 million additional buyers that could not qualify for a mortgage one year ago would qualify at today’s lower rates, the National Association of REALTORS® said. 

Arizona ranked No. 4, with an effective real estate tax rate of 0.48%. That equates to about $1,585 annually for a home valued at $332,700 (the U.S. median home price in 2024).

Affordable apartment construction in the Phoenix metro area increased 206% in the years following the Covid-19 pandemic, according to data from RentCafe.

Arizona’s top 10 priciest home sales in January ranged from $7.9 million to $16.5 million.

As the housing market continues to adjust, design and community strategy have become drivers of buyer preference, according to Jenni Nichols, vice president of design at John Burns Research and Consulting.

Given the rate of sales, Maricopa County had a 3.9-month inventory in January, up 5.4% year over year.

Zillow’s Home Value Index shows that in 13 of the past 20 years, home values in the metro area of the Super Bowl champion grew faster than the national average.

The priciest new listing in Arizona is back on the market after selling for $30 million last May. That price tag made it the most expensive home sale in 2025.

Middle-income seniors stand to be affected most by projected shortages — those who don’t qualify for subsidized housing but can’t afford new construction.

These are the five most expensive homes sold in Arizona in 2025, as well as the agents responsible for the transactions.

Affordability challenges continue to bedevil homebuyers, despite mortgage rates falling to a three-year low, the National Association of Home Builders reported. 

The priciest Arizona home sold in December was a $16.25 million estate with views of the Camelback Mountains.

Research showed a disproportionately high share of foreign-born workers active in the construction trades nationally in 2024.

Sales of existing homes jumped 5.1% month over month, topping analyst expectations. 

Comparing 180 United States cities, WalletHub found Scottsdale to have the best job market in the country, based both on job availability and the city’s overall socioeconomic growth.