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Warm greetings to my discerning readers! I am so happy you landed here today.
This week’s market pulse confirms that Greater Phoenix continues to reward patient capital with steady price gains—median sales rose 3.7% year-over-year to $472,000, while inventory remains tight at 12% below last spring’s level.
For wealth managers, this resilience supports conservative portfolio diversification and shields equity from abrupt market swings. On the tax front, rising valuations foreshadow possible reassessment adjustments, reminding owners to review homestead protections and pending legislative caps. Notably, cities like Peoria and Mesa advance green ordinances and sustainable infrastructure, enhancing long-term asset security. Meanwhile, new smart-city pilots, rezoning clusters, and mixed-use incentives across Scottsdale and Phoenix signal that resilient, energy-efficient urban fabric remains central to the region’s growth narrative.
As always, I try to distill these developments to keep your holdings aligned with enduring value and compliant stewardship.
According to the latest ARMLS STAT report, the median sales price in Phoenix rose 3.7% year-over-year in May 2025, reaching $472,000, while active inventory remains 12% lower than last spring. This reflects sustained equity retention for wealth portfolios. Homeowners should note property tax valuations will likely adjust upward, reinforcing the importance of homestead exemptions. Legislative discourse continues around reassessment caps. These stable fundamentals support conservative wealth preservation strategies and align with energy-efficient building code adoption trends citywide.
Source: ARMLS
Scottsdale’s Active Cases portal shows a 21% uptick in mixed-use rezoning requests in the first half of 2025, with developers clustering near Old Town and the McDowell Corridor. This signals diversified income streams for local investors. Higher-density allowances may alter mill rate calculations for owners. Recent city council sessions emphasized sustainable transit links and walkability enhancements, which bolster long-term asset desirability in these districts.
Source: Scottsdale Permits
New single-family subdivision permits in Mesa increased 18% year-to-date, per Maricopa County’s GIS and Mesa’s P&D Services portal. This surge supports regional housing supply goals. Wealth managers may assess how suburban migration impacts rental yields. Tax assessors will adjust parcel values accordingly. Local ordinances continue to streamline lot splits and infrastructure cost-sharing, while developers integrate water-smart landscaping to meet sustainability benchmarks.
Source: Mesa P&D
Peoria’s city reports show a 15% rise in commercial renovation permits for the Old Town area, attracting new restaurants and boutique retail. Property owners benefit from increased foot traffic and potential NOI growth. Tax incentives remain in place for façade improvements. The planning commission’s latest sessions promote public art and green streetscapes to enhance environmental resilience. This revitalization supports diversified urban income for family offices.
Source: Peoria
The Anthem Community Council’s June 2025 bulletin noted a 12% year-over-year increase in HOA compliance citations, particularly for landscape upkeep. For high-net-worth residents, well-maintained exteriors help sustain appraisal values. HOA dues remain stable, ensuring predictable tax-deductible expenses. Recent CCR updates align with Maricopa County’s drought mitigation ordinances, further embedding sustainable water practices in property stewardship.
Source: Anthem
Maricopa County’s parcel data shows a 9% rise in rural land splits in New River this year. Investors leverage this trend to build custom estates with large lot buffers. New parcels may impact valuation timing for ad valorem taxes. County planning meetings emphasize groundwater use compliance to protect aquifer levels, underpinning long-term land value stability and aligning with regional smart water initiatives.
Source: Maricopa GIS
Yardi Matrix reports Phoenix’s multifamily vacancy rose to 6.2% in May 2025, up from 5.8% last year, amid robust construction completions. This softens rent escalations, providing moderate inflation hedges for REIT investors. Tax depreciation schedules remain advantageous for new builds. Zoning adjustments favor adaptive reuse to mitigate oversupply, and city planners push for green building retrofits to future-proof older inventory.
Source: Yardi Matrix
The latest S&P Case-Shiller Home Price Index places Phoenix’s annual price growth at 4.1% through April 2025, outpacing the national average. This strengthens collateral values for wealth preservation. Rising home values may increase state transfer taxes on high-ticket transactions. Ongoing debates on housing affordability drive city-level proposals for inclusionary zoning. Home energy rating requirements also incentivize sustainable upgrades, enhancing long-term appeal.
Source: S&P Dow Jones Indices
CoreLogic’s April 2025 report shows Phoenix’s mortgage delinquency rate at just 1.4%, among the lowest for major U.S. metros. This stability limits forced sales, supporting robust equity retention. Low distress keeps foreclosure-related tax forfeitures minimal. State regulators continue to monitor adjustable-rate resets. Sustainable lending standards reduce macro shock exposure, aligning with national financial resilience guidelines.
Source: CoreLogic
Effective July 1, 2025, Phoenix’s updated short-term rental ordinance mandates annual licensing and neighbor notification. Owners must file local privilege tax returns, adding administrative layers. This policy aims to curb nuisance properties and maintain neighborhood character, preserving local housing stock’s appeal. From a sustainability lens, restrictions reduce transient occupancy impacts on community services.
Source: Phoenix Gov
The Maricopa County Assessor’s Office reports a 22% increase in residential valuation appeals for 2025, driven by owners contesting rising median appraisals. This uptick signals taxpayers’ focus on capping property tax burdens. Wealth managers monitor appeals to balance cash flow forecasts. Legislative proposals to tighten valuation caps are under review. Sustainable community upgrades, such as xeriscaping, can justify assessed value adjustments favorably.
Source: Maricopa Assessor
SelectMesa.com indicates a 30% rise in active industrial developments compared to 2024, concentrated near the Elliot Road Tech Corridor. This growth supports portfolio diversification into light manufacturing assets. Property taxes for industrial sites remain relatively competitive. Recent zoning text amendments streamline site-plan approvals. Green building certifications in this submarket ensure operational efficiency and environmental compliance, safeguarding long-term income streams.
Source: Mesa Economic Development
Effective June 18, 2025, the Phoenix City Council adopted new building code amendments requiring prewiring for electric vehicle charging in all new multi-unit residential builds over four units. Owners must factor in upfront costs but benefit from enhanced market appeal and potential tax credits. This aligns with federal incentives under the Inflation Reduction Act. Such standards support energy transition goals and increase asset resilience to future regulatory shifts.
Source: Phoenix Codes
The City of Peoria passed updated ordinances mandating permeable pavements and native tree canopies for commercial parking lots exceeding 10,000 square feet. Landlords should model new compliance costs in CAPEX plans. These features may offer depreciation incentives while enhancing stormwater management. City planners emphasize resilience to heat islands, aligning with broader smart-city climate adaptation strategies and protecting property values during extreme weather events.
Source: Peoria Gov
Residents in New River filed petitions advocating for expanded “Dark Sky” zoning overlays to reduce light pollution near the Tonto National Forest boundary. If adopted, exterior lighting standards will tighten, slightly affecting renovation budgets for luxury estates. Conservation easements may yield property tax relief. Local supervisors weigh ecological impact alongside future home resale desirability tied to pristine viewsheds.
Source: Maricopa County
CoStar’s Q2 2025 report shows Phoenix metro office vacancy at 17.8%, steadying after peaking at 19% last year. Sublease volume has declined by 4% quarter-over-quarter. Investors should watch lease incentives impacting net effective rents. Local policymakers explore adaptive reuse credits to convert surplus offices into workforce housing, supporting urban density and sustainability goals. Tax credits for conversions offer financial offset potential.
Source: CoStar
According to Scottsdale’s Active Permits portal, new luxury home permits declined 8% year-to-date after a pandemic-fueled surge. This signals recalibration at the high end. Higher-end builds remain desirable for wealth diversification but require careful cash flow modeling due to longer build cycles. Transfer tax revenues from luxury closings continue to fund local infrastructure. New energy code mandates ensure homes meet high performance standards, appealing to sustainability-conscious buyers.
Source: Scottsdale Cases
Yardi Matrix shows median effective rent in Phoenix increased just 2.4% year-over-year in May 2025, down from a peak of 8% in 2022. This tapering eases cost-of-living pressures for renters but signals caution for landlords reliant on rapid escalations. Depreciation schedules and expense deductibility help maintain after-tax yields. City officials are revisiting housing incentive programs to maintain supply elasticity without undermining neighborhood character.
Source: Yardi Matrix
In May 2025, Arizona lawmakers approved two bills clarifying groundwater rights in expanding exurban areas. This directly affects land entitlements in Anthem, New River, and other Maricopa fringe zones. Land investors must vet assured water supply designations to avoid title encumbrances. State water planning remains central to regional resilience and asset liquidity under prolonged drought scenarios.
Source: AZ Legislature
The BLS reports Phoenix-Mesa’s CPI rose 2.5% year-over-year in May 2025, below the national rate of 3.2%. Moderating inflation supports stable mortgage affordability and consumer sentiment. For landlords, slower CPI affects escalation clauses in triple net leases. State economic forecasts expect subdued utility cost increases due to renewable energy projects. Smart-grid investments maintain Phoenix’s appeal to energy-conscious commercial tenants.
Source: BLS West
Recent closings of pad sites along Anthem Way reflect strong institutional appetite for income-producing retail near established master-planned communities. Average cap rates remain near 5.8%. Buyers favor predictable HOA traffic counts and low property tax overheads. Zoning consistency under CCRs protects land use. Smart landscaping ordinances also reduce long-term operating costs through water conservation.
Source: Anthem
Mesa passed a new Accessory Dwelling Unit (ADU) ordinance in May 2025, legalizing backyard casitas up to 1,000 square feet citywide. This policy expands rental inventory and supports multi-generational living models. Homeowners may claim new depreciation allowances. Assessors will update parcel values upon permit finalization. The ordinance aligns with statewide affordable housing strategies and promotes gentle infill without compromising neighborhood cohesion.
Source: Mesa Gov
Peoria City Council approved a Tax Increment Financing (TIF) district for its downtown revitalization zone, projected to generate $42 million in incremental tax revenue by 2030. Investors benefit from upgraded streetscapes and increased tenant demand. TIF funds offset infrastructure costs, reducing developer risk. These improvements encourage walkability and mixed-income housing integration, reinforcing long-term asset durability.
Source: Peoria
Scottsdale is reviewing a proposal to cap short-term rental permits at 4% of the city’s total housing stock following resident complaints. This potential cap would limit new STR income streams. Hosts would need to ensure compliance with transient occupancy taxes. The initiative aligns with efforts to stabilize neighborhood cohesion and maintain school district population bases, reinforcing sustainable urban planning principles.
Source: Scottsdale
The Cromford Report’s Housing Affordability Index for Phoenix remains near 72, unchanged from late 2024, suggesting moderate affordability relative to local income trends. For wealth advisors, this index guides residential buy-sell timing strategies. Assessor updates track income-to-price ratios to flag eligibility for homestead relief. Council meetings continue to address inclusionary zoning pilots to widen affordability. Energy-efficient housing stock further underpins buyer confidence.
Source: Cromford Report
Thank you for spending a moment with this week’s curated insights. Hope these highlights fortify your understanding of Phoenix’s evolving landscape and help position your investments for sustained, tax-efficient performance.
Should you wish to delve deeper into tailored strategies or discreet portfolio recalibrations, I invite you to connect for a private Zoom consultation.
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Until next week, stay informed and future-ready.
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Nice to meet you! I’m Katrina Golikova, and I believe you landed here for a reason. I help my clients to reach their real estate goals through thriving creative solutions and love to share my knowledge—giving lots of freebies along the way.
See You Soon,
Katrina
You can listen right now to current news
You can listen to all AZique real estate news and insights on Spotify or any other preferred platform of yours: YouTube, Amazon, Audible, Apple Podcast. Daily Arizona real estate market pulse – straight from Sonoran Desert to you where ever you are!
Always fresh, smart, data-driven from Sonoran Desert straight to your mailbox
Click here to explore current mortgage rates. Rates may vary based on credit score, loan type, and lender policies. For the most accurate estimate, consult with a lender.
Realty One Group
Katrina Golikova
Real Estate Professional
License ID: SA696603000
17550 N Perimeter Dr, Scottsdale, AZ 85255
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