Phoenix Is Building Again — Here's What That Means for You.

If it feels like there’s construction on every corner in Phoenix right now, you’re not imagining things. From new neighborhoods popping up in the suburbs to cranes dotting the skyline downtown, housing construction in our city is having a major moment.

In fact, Phoenix just ranked among the top 10 cities in the U.S. for housing construction as of March 2025, according to HousingWire. That’s not just a stat — it’s a sign that something big is happening here. And if you live here, or plan to, you’re right in the middle of it.

At Andrea Garcia Real Estate Group, we’ve been watching this trend closely. Here's what we're seeing, and why it matters.

Why Now?

Phoenix has been one of the fastest-growing cities in the country for years, but our housing inventory hasn’t kept up. That’s finally changing.

This spring, Arizona lawmakers passed new legislation aimed at speeding up housing development — especially more affordable starter homes. The goal is to ease the pressure on the market, and so far, it's working. Builders are getting to work across the Valley, creating opportunities we haven’t seen in a while.

More homes mean more options. Less competition. And maybe, just maybe, some relief for buyers who’ve been feeling squeezed out.

The Downtown Transformation

Downtown Phoenix is undergoing a full-blown evolution. About ten high-rise apartment buildings are currently under construction or set to open this year. These aren’t just apartments — they’re mixed-use developments that include retail, restaurants, offices, and community spaces.

This kind of growth isn’t just about housing. It’s about reimagining what life in the city can look like. Living, working, and relaxing in the same neighborhood is becoming more accessible than ever before.

The Return of Paradise Valley Mall — With a Twist

If you grew up in Phoenix, you probably have memories of Paradise Valley Mall. Now, it’s coming back in a whole new form.

The site is being transformed into a walkable, modern destination called PV — with luxury apartments, green spaces, dining, and a Whole Foods at the center. It's not just a redevelopment — it’s a total rethinking of suburban living. And it’s going to impact home values and buyer demand in that entire area.

We’re already seeing renewed interest from buyers and investors in neighborhoods nearby.

Connecting More of the Valley

Infrastructure is keeping pace with development, too. In June, the new South Central Light Rail extension is opening, adding seven new stations and connecting downtown to South Phoenix all the way to Baseline Road.

This kind of connection opens the door to more walkable, transit-friendly neighborhoods. For homeowners, it often means rising home values. For renters, it’s easier access to jobs, shopping, and schools. And for investors, it's a green light for smart long-term growth.

The Water Conversation

Of course, we can’t talk about growth in Phoenix without talking about water. Arizona regulators are paying close attention to groundwater availability, especially for large-scale developments. That’s leading to a shift toward more sustainable building practices, like using surface water, reclaimed water, and tighter conservation measures.

This matters not just for builders, but for buyers. People are asking more questions about long-term livability and how new communities are planning for the future. And those are good questions to ask.

What This Means If You're Buying or Selling

For buyers, this could be the most hopeful moment we've seen in years. New inventory relieves pressure on prices and creates more choices — especially in areas that have been too competitive or too expensive.

For sellers, it means fresh energy in the market. New development often brings renewed attention and rising values to established neighborhoods. If you’ve been thinking about selling, the next few months might be a smart window to explore that.

And for investors? The writing is on the wall. Phoenix is not slowing down.

At Andrea Garcia Realty, we believe in staying ahead of the trends so you don’t have to. If you’re wondering how this new wave of growth might affect your property value, your buying timeline, or your investment plans, we’d love to talk with you.

Let’s find your next opportunity — while the city is still on the rise.