Housing & Our Community

Housing Affordability in Arizona: September 2023 Update

Housing Affordability in Arizona: September 2023 Update

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Conditions for Arizona’s home buyers are – arguably – more difficult today than they’ve ever been. Interest rates on a new 30-year mortgage loan are over 7%, which is higher than they’ve been since 2001.

Zoning Reform and Arizona’s Housing Market

Zoning Reform and Arizona’s Housing Market

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SB 1161, SB 1163, and HB 2536 would make various changes to Arizona’s home permitting and zoning regulatory environment, enabling developers and builders to increase the pace of home construction relative to current law.

Arizona Housing Affordability Update: February 2023

Arizona Housing Affordability Update: February 2023

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Ongoing rising interest rate pressures, a collapse in buyer interest, and lags in the construction and permit approval cycle will likely put continued downward pressure on prices over the next year.

Arizona Housing Affordability Update October 2022

Arizona Housing Affordability Update October 2022

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The U.S. and Arizona housing markets are in the midst of a sharp correction – the first since the Great Recession. Prices peaked in June and have fallen over 3% through September. Ongoing rising interest rate pressures, a collapse in buyer interest, and lags in the construction and permit approval cycle will likely put continued downward pressure on prices over the next 6-12 months.

Arizona Housing Affordability Update: August 2022

Arizona Housing Affordability Update: August 2022

FULL REPORT As expected, the U.S. and Arizona housing markets are changing rapidly in response to quickly rising interest rates. For the first time since 2011, Phoenix-area home prices fell in July, and despite continued increases in target interest rates average...

Arizona Housing Affordability Update: July 2022

Arizona Housing Affordability Update: July 2022

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The lack of housing affordability is even more acute in Arizona and the Phoenix metro market, where prices have increased much more quickly than nationally; prices here have risen 40% since the end of 2020, versus 25% for the United States