NexMetro will develop its 25th build-to-rent community in the Phoenix area with Avilla Foothills, a 108-home community in Surprise.

Homes include a full suite of appliances, landscaped front and backyards and designer finishes. Pricing starts at $490,000.

The median sales price of new homes sold in April rose 8% to $422,500 from $391,100 in March, the U.S. Census Bureau and the Department of Housing and Urban Development reported.

The $6.37 million deal was finalized on May 18.

Despite a monthly decline, the rate of new-home construction still came in above consensus estimates. 

Among the top 50 metro areas, Boston and Miami led the pack. 

Builder confidence saw a modest bump in May, but affordability challenges continue to weigh heavily on the housing market, according to new survey from the National Association of Home Builders. 

Camelot Homes and Shea Homes were the most awarded Phoenix-area builders at the 2026 MAME Awards, an annual celebration from the Home Builders Association of Central Arizona.

KB’s new corporate home base in Maricopa County, located at the Hayden Ferry Lakeside business park, will preside over the company’s operations in 49 markets across the country.

Toll Brothers will build a luxury condominium at Cavasson, a 1.8 million-square-foot mixed-use development in North Scottsdale.

The 2026 National Housing Supply Summit was held in Washington, D.C., on March 18.

Tri Pointe Homes earned two gold awards — the highest honor — for Phoenix-area projects.

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

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

Residences have access to on-site amenities like a pool, hot tub, dog parks, barbeque areas and green spaces.

Offerings in the community include Toll Brothers’ Kenly, Eastover and Lockhart designs.