First-timers made up 45% of buyers in 2022 and 37% in 2021.

High mortgage rates and limited inventory continued to weigh on sales activity, National Association of REALTORS®Chief Economist Lawrence Yun said. 

Over 135,000 apartments could join the Phoenix housing market, according to the Q2 2023 Construction Pipeline report from Berkadia.

Single-family home permits and completions, meanwhile, also rose, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Experts predict that Phoenix will be one of the most populated places in America by 2100. But can the metro actually handle all that growth?

All listings were posted to the Multiple Listing Service within the past month — and all four of the top listings are new construction.

The Phoenix-area city of Scottsdale ranked at No. 2 on RentCafe’s list — only 8% of children in the metro live under the poverty line, one of the lowest proportions of any big city in the nation.

Some places in the country have distinctly higher costs associated with the first year of homeownership.

Of survey respondents who made a wedding registry in the past two years, 85% said they would have preferred to receive money they could have used towards a down payment, mortgage payment or other associated homebuying costs.

Builders could, in theory, start building over 32,000 apartment units immediately: 363 vacant plots around the area are already zoned for multifamily construction.

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.