Chandler Arizonan - 11.15.2020

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CHANDLER COVID CASES RISING

CITY FINANCE PICTURE BRIGHTER

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From Uptown to Downtown, covering Chandler like the sun.

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An edition of the East Valley Tribune

NOVEMBER 15, 2020

INSIDE This Week

REAL ESTATE

THE CHANDLER ARIZONAN | WWW.CHANDLERNEWS.COM | NOVEMBER 15, 2020

21

From Uptown to Downtown, we cover Chandler like the sun

Building permits rise, but market remains tight BY PAUL MARYNIAK Arizonan Executive Editor

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rustrated home buyers got some good news at the beginning of November, but it likely won’t make them smile. The good news that building permits for new home construction soared in the third quarter is tempered by the fact that most of that new construction is in Pinal County, especially around Queen Creek, according to the Cromford Report, which closely monitors the housing market in the Phoenix Metro region. And that good news likely will be all but squelched by some of Cromford’s other findings – namely that listings began drying up in the latter part of October while prices are soaring. Budget-conscious buyers also got more sobering news: prices are “skyward” bound. “The size of the market below $300,000 is shrinking fast, constrained by lack of supply and by the fact that last year’s home at $270,000 is now priced well over $300,000,” Cromford said. “However, any home priced under $300,000 is likely to see hordes of buyers. Is there any sign of the upward surge in pricing losing pace. In a word - No.” It also said that regardless of the pandemic, prices in the Greater Phoenix

Caption (Credit)

market are “unlikely to stop rising.” Even seven-figure homes are seeing surging demand, it said, noting that in October, a record 37 homes priced over $3 million sold. Cromford said that even though October “brought us a healthy flow of new listings,” many buyers are due for more disappointment because “the demand has strengthened so much these have done almost nothing to affect the chronic shortage of homes for sale.” To put it bluntly, according to Cromford, home buyers can still expect to be looking for needles in haystacks. “By the time we get to Thanksgiving, the flow of new listings is likely to slacken and we will probably see supply fall away even further as listings get removed for the holiday season,” it said. “Whether this still holds true during a

pandemic we will have to see. There is still no sign of any weakness developing in the market with buyers having to fight for every scrap of housing that comes available.” “Despite all expectations for the mar-

ket to cool, it keeps getting hotter, although at a slower pace,” Cromford added, forecasting a continued upward spiral in prices that already has put the Phoenix market close to the head of the pack in the rate of home price increases. “Prices are certain to rise from their current level,” Cromford said. “It will take a massive increase in supply for prices to change direction and there is currently no sign of this happening. In fact, we would expect supply to deteriorate between now and year end.” Phoenix has seen a year-over-year average price increase of 9 percent, it added. Meanwhile, in looking at single-family

see MARKET page 26

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Election: Sellers surprises, school boards change BY PAUL MARYNIAK Arizonan Executive Editor

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ithin days of the General Election, the much-vaunted “blue wave” in Arizona pretty much became a trickle for down-ticket races. But that doesn't mean Election 2020 didn't come without any stunning turn of events.

Nothing was more surprising than an apparent last-minute win by former Chandler City Council member Jack Sellers, who pulled out a victory in his quest for a full term in the county supervisor seat he was appointed to in January 2019. With only about 1,000 votes to count county-wide on Friday, Sellers in the latest unofficial results apparently defeated Democratic challenger Jevin Hodge by 407

votes after trailing him on Election Night and two days afterward. Hodge had even declared victory two days after the election but each subsequent day's results steadily chipped away at his lead in County District 1, where registered Republicans have more than a 20,000-vote edge over Democrats.

While city officials have generally expressed support for adding more housing options around Chandler, some debates have been sparked over where these new apartment complexes should be located. The projects range from standard threelevel apartment buildings to chic singlestory homes designed to be shared by multiple families. All the developments range in size and scope, yet they are all trying to squeeze into some of the last parcels of available land within the city limits.

Planning Administrator Kevin Mayo said Chandler is simply running out of space to build large, expansive subdivisions like Fulton Ranch -- projects that dominated the city’s housing market for several decades. “Those are going away -- they’re few and far between now,” Mayo said. Some plans already came before City Council earlier this month. Despite some objections from nearby residents, Council on Nov. 5 approved the

see ELECTION page 10

Chandler seeing boom in new apartments, condos

SPORTS ........................ 39 Chandler teen's invention garners big prize.

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BY KEVIN REAGAN Arizonan Staff Writer

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growing demand for multifamily housing is fueling developers’ plans to add more than 1,000 new apartments and condominium units across Chandler in the near future. The city Planning and Development Department has been reviewing several housing projects that could substantially increase Chandler’s inventory of affordable and luxurious apartments.

see APARTMENTS page 12

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