New Construction Homes in Phoenix Metropolitan Area

About Phoenix Metropolitan Area

Phoenix, the fifth largest city in the United States, is famous for its year-round sunshine, beautiful deserts, and upscale spa resorts nestled in the mountains. The city seamlessly combines an exciting urban lifestyle with the rich Southwestern culture, evident in its vibrant art scene, Native American influences, and Spanish colonial heritage. Geographically, Phoenix sits in the Salt River Valley, providing locals convenient access to nearby attractions such as Sedona, Tucson, and Montezuma Castle National Monument. While the river is often dry due to upstream dams, you will still be excited about what Pheonix offers if you love the outdoors. South Mountain Park Preserve is excellent for hiking, mountain biking, and horseback riding. There are also other beautiful cycling routes and nearby lakes that are perfect for jet skiing and other water activities. Sports enthusiasts will find a home here, cheering for local teams like the Arizona Diamondbacks in baseball, the Phoenix Sunds and Mercury in basketball, the Phoenix Coyotes in hockey, and the Arizona Cardinals in football. Additionally, Phoenix is a golfer's dream, with numerous courses, including TPC Scottsdale's Stadium Course.

Housing in Phoenix Metropolitan Area

Phoenix is growing fast, with its population reaching 4.7 million in 2023, a 1.4% increase from last year. Phoenix's overall cost of living is slightly higher than the national average, with a current tax rate of 8.6%. Still, for everyday living, Phoenix is quite economical. Healthcare and essential items like groceries and clothes are cheaper than in most other large cities. As one of the fastest-growing cities in the U.S., it's booming in job opportunities in industries like tech, education, healthcare, and real estate development. According to the U.S. Census Bureau, the median household income is $64,927.

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Real Estate in Phoenix Metropolitan Area

Phoenix's real estate market reflects the city's growth, with a median home price of $440,000. To support this growth and make homeownership more accessible, Phoenix offers several homebuyer incentives. The Open Doors Down Payment Assistance Program targets buyers earning below 80% of the median income, with a maximum purchase price of $467,000. The Maricopa County Home in Five and the Arizona Industrial Development Authority Home Plus AZ programs contribute up to 5% towards down payments and closing costs. Each neighborhood tells its own story and offers unique living experiences depending on lifestyle. Downtown buzzes with modern apartments and condos, attracting those who enjoy an urban environment with plenty of entertainment options nearby. For luxury living, the Biltmore District offers elegant homes near upscale shopping and five-star restaurants at Biltmore Fashion Park. Scottsdale is known for its artistic flair and comfortable living, and perfect for those who appreciate luxury and peace. In contrast, Tempe is filled with the energy of Arizona State University, providing various housing from student apartments to family homes.

Most Recent Communities in Phoenix Metropolitan Area

Most Recent Homes in Phoenix Metropolitan Area

New Construction Market in Phoenix Metropolitan Area

The new construction market in Phoenix is currently very active, with a strong demand for new homes and a limited supply. This demand pushes up prices, but buyers can still find builders offering special incentives. New home options range from single-family homes to condos to meet the needs of various budgets and preferences. Due to Arizona's high energy costs, energy efficiency is a significant focus. Many newly built homes are part of master-planned communities, which include amenities like parks, trails, and shopping areas, making them great for families and those looking for a connected community life. Popular neighborhoods for new construction include Ahwatukee, a master-planned community with a family-friendly environment; North Scottsdale, a hub for luxury living; Gilbert, known for its excellent schools and recreational options; and Mesa, which offers affordability and numerous attractions for guests of all ages such as the Arizona Museum of Natural History and the i.d.e.a. Museum.