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Over the past decade, we’ve seen a noticeable shift in new single-family homes across the U.S.: average size has dropped from 2,700 to 2,400 square feet, while the price per square foot has surged by about 72%. By 2025, one in four new homes sold measured under 1,800 square feet—compared to roughly one in six homes a decade ago. Meanwhile, larger homes (3,000 sq-ft or more) have become less common, falling from about one in three to just one in five. Builders are leaning into more compact designs to help offset the steady climb in land, labor, and material costs, especially as mortgage rates hover between 6% and 7%. For buyers—especially those watching their budgets or stepping into homeownership for the first time—these smaller homes can make down payments and monthly expenses a bit more manageable. Still, the increase in price per square foot is a reminder that affordability remains a challenge. Having spent years guiding clients through these evolving trends, I believe understanding these shifts is key to making decisions you’ll feel confident about—whether you’re hoping to buy, sell, or simply plan your next move.

Navigating your first home purchase in Arizona can feel overwhelming, but with the right preparation, it's a journey you can approach with confidence. Over my two decades in real estate—especially here in the Prescott Quad Cities—I've seen firsthand how important it is to lay a strong financial foundation early. Reviewing your credit, paying down revolving debt, and holding off on new financing before you start touring homes will put you in a much better position when the time comes to make an offer.

A common misconception is that you need a massive down payment. In reality, many buyers secure conventional loans with as little as 3% down, FHA loans at 3.5%, and there are helpful state and county programs available to ease the process. When it comes to getting your financing squared away, there's a big difference between pre-qualification and pre-approval: pre-approval means your documents are verified and your credit is checked, giving sellers real confidence in your offer.

When you’re looking at properties, pay attention to the details that matter in Arizona: HVAC age and maintenance, insulation quality, roof underlayment or coatings, and sun exposure—all factors that can impact both your comfort and your long-term costs. Once your offer is accepted, you’ll enter escrow, arrange for an independent inspection, and have the opportunity to request repairs or, if needed, cancel and recover your earnest money. My focus is always on making sure you understand each step, so you can make informed choices and feel good about your first home purchase.

The range of luxury home sales across the US is truly remarkable right now. A recent review of public listings in major metros showed top transactions stretching from $3.7M all the way to an astonishing $130M. Some of our most active markets saw their highest sales at $130M, $47M, $40.2M, $40M, $21.2M, $19M, $18M, and $17.5M. What stands out is that in a handful of cities, even the fifth-highest sale surpassed $10M—a real testament to the depth of those luxury markets.

Interestingly, one metro reported its five priciest sales between $24M and $40M, highlighting a tight pricing spread at the top. It’s important to remember that these figures reflect only publicly marketed properties, so private or off-market deals may not be captured, and in nondisclosure states, the numbers are based on list prices rather than final sale amounts.

As someone who’s guided clients through changing markets for over 20 years, I know how numbers like these can spark questions about value, opportunity, and what luxury really means in different areas. My approach is always to provide clarity and context—helping clients make confident, informed decisions, whether they’re moving up, investing, or simply curious about what shapes the market.

When searching for a home that truly fits your lifestyle, it’s important to look beyond just the floorplan and finishes. Over my 20 years serving the Prescott Quad Cities, I’ve seen how details like the local school district can influence property values—even for those who don’t have children. Schools often shape neighborhood dynamics and long-term investment potential. Another key factor? Reliable internet access. Whether you work remotely or simply enjoy streaming your favorite shows, internet speed matters more than ever. I always encourage clients to consider these practical aspects alongside their wish lists. It’s about making informed choices that support your daily life and future goals.

We’re seeing a notable shift in the housing market: in the four weeks ending August 23, new listings across the US edged up by 0.4%, and total homes for sale grew by 0.5%—marking the highest inventory levels since early Q2. Despite this increase, pending home sales dipped 1.1% to a six-month low, as many buyers are understandably cautious with housing costs remaining high and the average mortgage rate hovering around 7%, a 13-month peak. The median home-sale price is now up 1.9% year-over-year, topping $400,000.

For those actively searching, these conditions are creating more buyer-friendly opportunities. With more homes available and demand softening, there’s often greater flexibility to negotiate on price or concessions—especially for properties that have been listed for several weeks. Sellers who approach pricing realistically, rather than chasing last year’s numbers, are finding steadier success.

Having spent two decades guiding clients through shifting markets, I’ve learned that understanding these trends—and knowing how to use them to your advantage—makes all the difference. My focus is always on helping you make informed, confident decisions, no matter which side of the table you’re on.