While year-to-date single-family homebuilder permits were down 17% in metro Phoenix, one Valley city reported a 1,058% increase in permits between January and October.
Apache Junction recorded 776 building permits between January and October, up from 67 during the same period in 2022, according to the Home Builders Association of Central Arizona.
The city near the Superstition Mountains in the far East Valley showed the biggest increase in permits year to date, while nearly every other municipality showed a decrease.
The exceptions were Florence, which showed a 184% increase in year-to-date permits; Glendale, with a 56% jump, and Phoenix with a 2% increase in year-to-date permits, according to HBACA data.
With a population approaching 40,000, Apache Junction is poised for major growth as Arlington, Texas-based D.R. Horton Inc. (NYSE: DHI) and Brookfield Properties Development pave the way for the construction of 10,000 homes there.
D.R. Horton is planning 5,000 homes in a 1,400-acre master-planned community called Radiance at Superstition Vistas, while Brookfield has purchased 1,400 acres for its Blossom Rock at Superstition Vistas community that will include 5,000 homes.
Brent Davis, president of D.R. Horton’s Phoenix East Division, said he’s continuing to see strong demand for new homes at Radiance at Superstition Vistas. Since opening Radiance earlier this year, D.R. Horton has sold more than 250 homes, he said.
“We are pleased to have now broken ground on the community’s amenity building, which includes a gym, pool and splash pad that will be available for residents enjoyment once construction is complete,” Davis said.
Source: Abc15 Arizona
