With 4,030 build-to-rent units completed in 2023 — a 10-year high — Phoenix is the No. 1 metro in the nation for this type of new construction.

“As a luxury developer new to Arizona and eager to take a prudent approach, sales for Portico outpaced all our expectations,” said Elizabeth Brooks, executive vice president of sales and marketing for Belgravia Group.

Trilogy Investment Company broke ground on Rêve at Avondale Station, a 107-home build-to-rent community in the Maricopa County city of Avondale.

Among the big winners were Camelot Homes, which won Builder of the Year, up to 250 closings, and Shea Homes, which won Builder of the Year, over 250 closings.

Among the top award recipients were the Allan & Murphy Luxury Property Group, which was named the No. 15 small team in the brokerage’s global network.

All 123 homes in Marketside Tercera at Verrado, a neighborhood within the Verrado master-planned community in Buckeye, are sold out.

The priciest new listings in Arizona include a $15,000,000 stone estate with donated beams from the Hopi Nation and repurposed materials from a 15th century Spanish mission.

The state where home values have increased the most was Idaho, which saw a 171.03% increase in home values from 2013 to 2023.

“This is a huge step forward for Landsea Homes, and we are excited about extending our presence in San Tan Valley,” Heather Cammiso, Arizona division president for Landsea Homes, said in a press release.

Belgravia Group topped off the first building of Portico, a nine-building condominium development located in the Loop 101 and Scottsdale Road corridor.

Toll Brothers opened four new model homes in the Phoenix area: two in Adero Canyon in Fountain Hills, one in Sonoran Trails in Cave Creek and one in Sereno Canyon in Scottsdale.

A $54 million estate tops the most expensive new listings in Arizona.

Sunset Farms, a new-home community from Landsea Homes located in Tolleson, has officially sold out.

Phoenix agents Matthew Fenicle and Brian Guzman recently launched LUXE Realty, a full-service boutique brokerage with the goal of “disrupting” the real estate industry.

Roughly 2.8 million millennials moved across state lines in 2022 — and a huge chunk of them moved into Arizona, according to a report from StorageCafe.

The move marks LPT’s expansion into its 21st state.