PHOENIX (AZFamily) — Gov. Katie Hobbs and other Phoenix-area leaders celebrated the grand opening of new affordable housing units in Phoenix.
The first phase of the complex, just off 31st Avenue and Thunderbird Road, features several parks, splash pads, and 108 three- and four-bedroom apartments.
“This is really amazing. I spent my career working in domestic violence so affordable housing is a big piece of how we address that. This is an amazing project that’s going to make lives better for a lot of Arizonans,” Hobbs said.
These new homes will serve as mixed-income and permanent supportive housing developments for families in need. Right now, the city of Phoenix reports that nearly 46% of its residents are considered low or extremely low-income, which means a lot of families are struggling to make ends meet.
“Affordable housing is essential. It’s everything. If you don’t have a safe place where you can call home, a place to breathe, take stock, and be able to think of how you can plan for your life and your family’s life there’s not much else you can do,” said Jessica Raymond, the executive vice president for Atlantic Development and Investments.
A mom of three, Elizabeth Galbez, said these homes are a path to help get them back on their feet toward success.
“There is something horrible about not being able to provide for your family. It destroys your self-esteem. It destroys your self-worth. As a mom, as a woman, as the primary breadwinner, it was like taking away who I was. So being here has given me back me,” Galbez said.
Atlantic Development and Investments reports that the local economic benefits of the project include $7.9 million in local income and 131 jobs.
Sources of funding for the project include housing trust funds and tax credit equity generated by an allocation of low-income housing tax credits from the Arizona Department of Housing, $1 million in HOME funds from the city of Phoenix, $1 million in AHCCCS Housing Trust Funds and GAP financing provided by the developer.
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PHOENIX (AZFamily)— The Phoenix Children’s Chorus says their future is unknown after their weekly rehearsals will no longer have a home after a historic church announced it would shut down.
According to the Desert Southwest Conference, the Central United Methodist Church voted to close down later this year.
Phoenix Children’s Chorus is coming up on celebrating 40 years in the Valley. Artistic Director Troy Meeker says they currently work with over 350 kids from 97 different zip codes.
Each Tuesday night for the past year, the choir would practice at Central UMC.
Meeker says the group will practice in the church for the next few weeks until the end of their season in June but will have to find a new home come August.
“We’re an organization that serves so many but we don’t have a place to call home right now. And so we know that we can finish our season but where we are going to be next year is a big question mark and that leaves a lot of families feeling in limbo and we don’t want that. We want them to feel excited about what’s to come,” he said.
Meeker adds that their experience at Central UMC has been nothing but positive. They are already looking for a new home, and venue visits will start this upcoming week.
The decision to close the church will be finalized at the Desert Southwest Annual Conference in June. Arizona’s Family reached out to the church for comment, but leaders declined to comment.
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One of the leading analysts of the Valley’s housing market said last week that homesellers’ position is improving but it also indicated they may be facing strong headwinds throughout the year from homebuilders and new home sales.
“The change is minimal but it is the first time since Jan. 18 that we have seen an improvement for sellers instead of a deterioration,” the Cromford Report said, calling Tempe and Avondale “primarily responsible” for a positive uptick in sellers’ position in the market. It added that its data also show Scottsdale and Maricopa have contributed a bit to the upward movement for sellers.
Looking deeper at its data for the 17 Valley submarkets it monitors, the Cromford Report said “Chandler is so far ahead at the top of the table that it has no serious rival at the moment.”
It also indicated that while still solidly in the sellers’ market, the next top three Valley submarkets were souring for sellers a bit. Those are Gilbert, Glendale and Fountain Hills, respectively.
Stating “10 out of 17 cities are still seller’s markets,” the Cromford Report said Mesa and Tempe, respectively, rank the fifth and sixth most favorable for people with homes on the market. Phoenix places eighth most favorable for sellers, it said.
The Cromford Report also said buyers can find a little light in the housing scene with a continuing rise in the number of homes for sale to a total not seen since before the pandemic.
“Supply has been gently increasing since the start of 2024 and has reached comfortably north of 17,000,” it said, reflecting a total for Maricopa and Pinal counties. “This is still well below the long-term average but is the highest total we have seen in late March since 2019.”
But there also is trouble in paradise where sellers are concerned, the Cromford Report indicated.
“Re-sales have been suffering from strong competition from new homes and this source of supply is looking stronger than last year,” it said. “In February there were 2,810 single-family home permits across Maricopa and Pinal counties – which is the highest number since March 2022 and up 107% compared to February last year.”
While the 1,147 multifamily permits issued in February reflected a 51% decline from a year earlier, the Cromford Report noted they comprise “a very lumpy number which fluctuates wildly from month to month.”
“It makes more sense to look at an annual running total,” it said of multifamily permit – which at 20,000 “is twice the level we regarded as normal until 2022.”
Apartments aside, new-home construction in the Valley may present a challenge going forward for re-sale homes.
“Sellers should expect to be facing increased competition from the new home builders over the coming 12 months,” the Cromford Report said.
Because of timing, the Cromford Report made this prediction prior to the March 26 collapse of Baltimore’s Francis Scott Key Bridge following a collision with a massive container ship that lost power.
By the end of last week, the National Association of Home Builders issued a warning that the collapse and virtual shut-down of a key East Coast port “is expected to cause supply-chain disruptions” for the homebuilding industry.
The NAHB said the top imports related to the home building industry include: plywood, veneered panels and similar laminated wood, which last year comprised 16% of the U.S. total import value for 2023; gypsum, for which the Baltimore port was the biggest gateway in America; and sawn lumber, for which Baltimore has been the 11th most important port.
Nevertheless, like the disaster’s impact on other sectors of the economy, it was still too early for most analysts to assess the full scope of how the collapse will play out in the housing market. Many analysts appeared to indicate that the auto industry would be among those sectors of the economy that will feel the most pain.
PHOENIX (3TV/CBS 5) — The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.
The typical home value in the United States was $344,159 in January, 3.6% higher than the year before.
Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.
Stacker compiled a list of cities with the fastest-growing home prices in Arizona using data from Zillow. Cities are ranked by the dollar change in the Zillow Home Values Index for all homes from the 12 months ending January 2024. The charts in this story were created automatically using Matplotlib. Data was available for 50 cities and towns in Arizona.
#50. Oro Valley
– Typical home value: $499,667
– 1-year price change: +$9,633 (+2.0%)
– 5-year price change: +$178,199 (+55.4%)
– Metro area: Tucson, AZ
#49. Tonopah
– Typical home value: $376,859
– 1-year price change: +$9,673 (+2.6%)
– 5-year price change: +$165,619 (+78.4%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#48. Rio Rico
– Typical home value: $253,168
– 1-year price change: +$10,054 (+4.1%)
– 5-year price change: +$108,271 (+74.7%)
– Metro area: Nogales, AZ
#47. Eagar
– Typical home value: $281,261
– 1-year price change: +$10,194 (+3.8%)
– 5-year price change: +$114,067 (+68.2%)
– Metro area: not in a metro area
#46. Sedona
– Typical home value: $918,780
– 1-year price change: +$10,253 (+1.1%)
– 5-year price change: +$392,876 (+74.7%)
– Metro area: Prescott Valley-Prescott, AZ
#45. Lakeside
– Typical home value: $390,408
– 1-year price change: +$10,305 (+2.7%)
– 5-year price change: +$164,031 (+72.5%)
– Metro area: Show Low, AZ
#44. Gilbert
– Typical home value: $565,644
– 1-year price change: +$10,441 (+1.9%)
– 5-year price change: +$224,180 (+65.7%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#43. Gadsden
– Typical home value: $239,614
– 1-year price change: +$10,507 (+4.6%)
– 5-year price change: +$103,875 (+76.5%)
– Metro area: Yuma, AZ
#42. Amado
– Typical home value: $239,390
– 1-year price change: +$10,881 (+4.8%)
– 5-year price change: +$99,597 (+71.2%)
– Metro area: Tucson, AZ
#41. Show Low
– Typical home value: $423,245
– 1-year price change: +$10,890 (+2.6%)
– 5-year price change: +$184,516 (+77.3%)
– Metro area: Show Low, AZ
#40. Three Points
– Typical home value: $262,239
– 1-year price change: +$10,897 (+4.3%)
– 5-year price change: +$94,881 (+56.7%)
– Metro area: Tucson, AZ
#39. Bisbee
– Typical home value: $213,825
– 1-year price change: +$11,000 (+5.4%)
– 5-year price change: +$88,146 (+70.1%)
– Metro area: Sierra Vista-Douglas, AZ
#38. San Luis
– Typical home value: $233,658
– 1-year price change: +$11,658 (+5.3%)
– 5-year price change: +$96,432 (+70.3%)
– Metro area: Yuma, AZ
#37. Cornville
– Typical home value: $504,831
– 1-year price change: +$11,744 (+2.4%)
– 5-year price change: +$182,835 (+56.8%)
– Metro area: Prescott Valley-Prescott, AZ
#36. Tempe
– Typical home value: $470,831
– 1-year price change: +$12,403 (+2.7%)
– 5-year price change: +$181,310 (+62.6%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#35. Prescott
– Typical home value: $590,623
– 1-year price change: +$12,871 (+2.2%)
– 5-year price change: +$212,460 (+56.2%)
– Metro area: Prescott Valley-Prescott, AZ
#34. Queen Creek
– Typical home value: $642,435
– 1-year price change: +$13,008 (+2.1%)
– 5-year price change: +$266,320 (+70.8%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#33. Payson
– Typical home value: $437,210
– 1-year price change: +$13,227 (+3.1%)
– 5-year price change: +$169,122 (+63.1%)
– Metro area: Payson, AZ
#32. Tolleson
– Typical home value: $391,006
– 1-year price change: +$13,310 (+3.5%)
– 5-year price change: +$174,719 (+80.8%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#31. Vernon
– Typical home value: $285,161
– 1-year price change: +$13,647 (+5.0%)
– 5-year price change: +$121,659 (+74.4%)
– Metro area: not in a metro area
#30. Fountain Hills
– Typical home value: $632,886
– 1-year price change: +$14,153 (+2.3%)
– 5-year price change: +$235,200 (+59.1%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#29. Patagonia
– Typical home value: $401,086
– 1-year price change: +$14,863 (+3.8%)
– 5-year price change: +$160,407 (+66.6%)
– Metro area: Nogales, AZ
#28. Parker
– Typical home value: $378,417
– 1-year price change: +$14,891 (+4.1%)
– 5-year price change: +$155,271 (+69.6%)
– Metro area: not in a metro area
#27. Concho
– Typical home value: $256,254
– 1-year price change: +$15,152 (+6.3%)
– 5-year price change: +$107,117 (+71.8%)
– Metro area: not in a metro area
#26. Wickenburg
– Typical home value: $524,995
– 1-year price change: +$15,173 (+3.0%)
– 5-year price change: +$207,100 (+65.1%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#25. Waddell
– Typical home value: $536,820
– 1-year price change: +$15,408 (+3.0%)
– 5-year price change: +$217,398 (+68.1%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#24. Pine
– Typical home value: $470,960
– 1-year price change: +$15,584 (+3.4%)
– 5-year price change: +$212,122 (+82.0%)
– Metro area: Payson, AZ
#23. Cottonwood
– Typical home value: $386,820
– 1-year price change: +$16,502 (+4.5%)
– 5-year price change: +$151,439 (+64.3%)
– Metro area: Prescott Valley-Prescott, AZ
#22. Williams
– Typical home value: $405,231
– 1-year price change: +$16,781 (+4.3%)
– 5-year price change: +$169,775 (+72.1%)
– Metro area: Flagstaff, AZ
#21. Catalina
– Typical home value: $409,142
– 1-year price change: +$17,532 (+4.5%)
– 5-year price change: +$162,660 (+66.0%)
– Metro area: Tucson, AZ
#20. Rio Verde
– Typical home value: $813,943
– 1-year price change: +$18,194 (+2.3%)
– 5-year price change: +$315,413 (+63.3%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#19. Clarkdale
– Typical home value: $456,959
– 1-year price change: +$18,448 (+4.2%)
– 5-year price change: +$172,751 (+60.8%)
– Metro area: Prescott Valley-Prescott, AZ
#18. Mormon Lake
– Typical home value: $324,497
– 1-year price change: +$19,370 (+6.3%)
– 5-year price change: +$149,117 (+85.0%)
– Metro area: Flagstaff, AZ
#17. Parks
– Typical home value: $615,731
– 1-year price change: +$21,696 (+3.7%)
– 5-year price change: +$251,361 (+69.0%)
– Metro area: Flagstaff, AZ
#16. Bellemont
– Typical home value: $446,818
– 1-year price change: +$21,805 (+5.1%)
– 5-year price change: +$179,717 (+67.3%)
– Metro area: Flagstaff, AZ
#15. Tortolita
– Typical home value: $606,372
– 1-year price change: +$21,974 (+3.8%)
– 5-year price change: +$217,139 (+55.8%)
– Metro area: Tucson, AZ
#14. Sonoita
– Typical home value: $539,899
– 1-year price change: +$22,213 (+4.3%)
– 5-year price change: +$202,546 (+60.0%)
– Metro area: Tucson, AZ
#13. Star Valley
– Typical home value: $532,761
– 1-year price change: +$22,481 (+4.4%)
– 5-year price change: +$214,094 (+67.2%)
– Metro area: Payson, AZ
#12. Munds Park
– Typical home value: $572,396
– 1-year price change: +$22,751 (+4.1%)
– 5-year price change: +$268,447 (+88.3%)
– Metro area: Flagstaff, AZ
#11. Forest Lakes
– Typical home value: $503,814
– 1-year price change: +$25,411 (+5.3%)
– 5-year price change: +$233,655 (+86.5%)
– Metro area: Flagstaff, AZ
#10. Flagstaff
– Typical home value: $622,412
– 1-year price change: +$26,413 (+4.4%)
– 5-year price change: +$248,578 (+66.5%)
– Metro area: Flagstaff, AZ
#9. Elgin
– Typical home value: $521,099
– 1-year price change: +$28,383 (+5.8%)
– 5-year price change: +$198,816 (+61.7%)
– Metro area: Nogales, AZ
#8. Scottsdale
– Typical home value: $792,522
– 1-year price change: +$29,168 (+3.8%)
– 5-year price change: +$320,637 (+67.9%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#7. Tubac
– Typical home value: $508,534
– 1-year price change: +$29,528 (+6.2%)
– 5-year price change: +$198,354 (+63.9%)
– Metro area: Nogales, AZ
#6. New River
– Typical home value: $722,347
– 1-year price change: +$33,701 (+4.9%)
– 5-year price change: +$291,775 (+67.8%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#5. Happy Jack
– Typical home value: $484,527
– 1-year price change: +$40,243 (+9.1%)
– 5-year price change: +$230,053 (+90.4%)
– Metro area: Flagstaff, AZ
#4. Fort McDowell
– Typical home value: $1,039,123
– 1-year price change: +$40,731 (+4.1%)
– 5-year price change: +$377,731 (+57.1%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#3. Carefree
– Typical home value: $1,219,524
– 1-year price change: +$50,878 (+4.4%)
– 5-year price change: +$506,962 (+71.1%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#2. Cave Creek
– Typical home value: $989,246
– 1-year price change: +$67,758 (+7.4%)
– 5-year price change: +$424,981 (+75.3%)
– Metro area: Phoenix-Mesa-Chandler, AZ
#1. Paradise Valley
– Typical home value: $3,270,191
– 1-year price change: +$136,225 (+4.3%)
– 5-year price change: +$1,440,934 (+78.8%)
– Metro area: Phoenix-Mesa-Chandler, AZ
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 50 states.
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