Curious about luxury listings in the state of Arizona?

Phoenix’s build-to-rent boom began after the housing crisis of 2008. According to the Urban Institute, two-thirds of unoccupied homes were converted into rentals by investors during that time.

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.

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. 

Relatively low population, affordable rents and ample job opportunities give recent college grads a high quality of life in Phoenix.

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

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

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

Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

Homebuyers in their 40s and younger are still planning to buy homes, even though most believe the market favors homesellers.

Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported. 

A $1,500 monthly rent budget will only get you so far in many of the biggest cities in the country. But how far can that same budget get you in Arizona?

The need for more space is common among all self-storage users: 40% of survey respondents listed this as their primary reason for renting storage space.

High demand drove multiple offers on about a third of pending sales, while 28% of homes sold above list price, the National Association of REALTORS® reported. 

The median home price fell 9.2% annually in Phoenix, according to the RE/MAX National Housing Report.