New Construction Homes in Arizona

About Arizona

Arizona is a beautiful state located in the southwestern region of the United States. It is home to the breathtaking Grand Canyon, panoramic desert landscapes, and a variety of outdoor activities. The air in Arizona is substantially cleaner, with lower levels of pollution than in most other areas of the United States, making it a great place to live for those with lung, joint, or other chronic health conditions. Additionally, the arid climate means less mold and allergens. Arizona has a lot to offer in terms of quality of life. The state has a thriving job market, affordable cost of living, and a variety of housing options. The weather is mild and sunny, with winter highs typically getting into the 70s and snow seen only on the higher mountains in the northern part of the state. The state also has a variety of beautiful landscapes that make you feel like you’re living in a painting. According to SafeWise, San Luis, Oro Valley, and Sahuarita are among the top 10 safest cities in Arizona. Arizona is also home to some of the nation’s most populous and safest cities, such as Chandler, Gilbert, and Surprise. Overall, Arizona is a great place to live for those who love warm weather, breathtaking desert landscapes, and a variety of outdoor activities.

Arizona Real Estate Markets

Phoenix Metropolitan Area

Housing in Arizona

According to SoFi, the average cost of living in Arizona is $44,875 per year. This includes housing and utilities, healthcare, food and beverages, gas and energy goods, and other personal expenditures. The average monthly mortgage cost in Arizona is $1,545. The median monthly rent for a studio apartment is $973, while the median monthly rent for a one-bedroom apartment is $1,047. Arizona ranks 37th in the United States when it comes to the cost of living, according to MERIC’s 2022 Cost of Living Index. However, the state offers a variety of affordable housing options and a thriving job market. It’s important to note that the cost of living can vary widely depending on the location and other factors. For example, the cost of living in Phoenix, the state’s capital, is higher than in other parts of the state.

Browse Communities & Homes in Arizona Cities

Real Estate in Arizona

According to experts, the median home value in Arizona is $423,436. This value has decreased by 6.1% over the past year. As of June 2023, the median home price in the United States was $410,200. Here are the median home prices for some other states: - California: $799,000 - Colorado: $582,000 - Florida: $409,000 - New York: $531,000 - Texas: $362,000 The average number of days a property stays on the market is around 19 days. As of September 30, 2023, the median sale-to-list ratio is 0.997, indicating a strong real estate market. Additionally, 23.1% of sales in August 2023 were above list price, while 51.0% were below list price, indicating a variety of prices on the market. According to Forbes, home sales in Arizona decreased by 12%, and the number of available listings on the market decreased by 5.5% in May 2023 compared to the previous year. According to Arizona PBS, the real estate market has grown by almost 33% over the past year. However, due to several factors such as a decrease in the median home sale price and the impact of mortgage interest rates on people’s ability to purchase homes, the real estate market is beginning to cool off. Overall, the real estate market in Arizona is dynamic and variable. To make informed decisions about real estate, it’s important to keep up with the latest data and market forecasts.

Most Recent Homes in Arizona

New Construction Market in Arizona

There are currently around 7,000+ new construction homes for sale in Arizona. According to NewHomesMate, here are the top 5 most popular new home builders in Arizona: Taylor Morrison, Lennar, Richmond American Homes, Meritage Homes, D.R. Horton. These companies build and sell a variety of homes, including single-family homes, townhomes, and luxury residences. It’s important to note that the new construction homes market in Arizona is dynamic and constantly changing. Therefore, it’s always a good idea to consult with a local real estate expert for more detailed information about the housing market in a particular area.