July Market Update

Hey everyone. At Williams Luxury Homes, we keep a close watch on what's happening in The Valley here on LUXE BLOG. Now that July 2025 is here, let's talk big trends. New construction is booming. Luxury's on fire. And resale? Slowing down. Here's what’s happening across the metro.

Builders Can’t Build Fast Enough

Phoenix is the third hottest new-build housing market in the country. Permits are up, demand's climbing, and supply still can't keep pace.

• Phoenix ranks No. 3 nationwide for new builds

• Maricopa County led the U.S. with 38,310 units in 2024

• D.R. Horton, Lennar, and Taylor Morrison are leading

• Sun Belt buyers favor new homes over resale

• The Valley still lacks enough inventory

• Tucson also made the top 50

Even with momentum, resale prices are falling. Home values dropped three straight months, down from $336K in January to $330K in April.

Also Read: Unrepresented Buyers Are Losing Big At New Home Communities

Cullum’s Luxury Moves Keep Delivering

Scottsdale-based Cullum Homes is on a hot streak. Two of their Paradise Valley communities just sold out.

• Mountain Shadows and Paradise Reserve are now full

• Remaining homes listed at The Phoenician, Ironwood Golf Villas, and Seven Desert Mountain

• Price per square foot is up big since the early 2010s

• Most homes now come fully furnished and move-in ready

• Cullum builds around 20 homes a year

• New deals in the pipeline but land remains hard to find

Their team saw potential early, betting big during a slow market. It paid off.

Wrapping It Up

Newly built homes in Arizona are everywhere, luxury is getting scooped up fast, and resale is taking a hit. Greater Phoenix keeps proving it’s still a top market. But rising rates and slowing prices could shake things up soon. Watch what happens next.