Are there a lot of new construction homes in Phoenix?

There are 6,868 new home listings right now, which is 6.6% more than there were over the past year. This shows a recent increase in available homes. This increase in new listings points to more options being available if you're looking to buy. Prices have eased a bit, with the average listing price at $818,462, down 2.5% from last year. It also takes a bit more time for homes to sell, with homes on the market for a median of 64 days, about the same as last year. Almost three in ten homes, or 28.7%, have seen a price reduction. This suggests that sellers might be adjusting their expectations. If you are looking to buy, the increase in new listings and price reductions could mean more choices and potentially better deals for you.