Tri Pointe Homes earned two gold awards — the highest honor — for Phoenix-area projects.

Affordable apartment construction in the Phoenix metro area increased 206% in the years following the Covid-19 pandemic, according to data from RentCafe.

Affordability challenges continue to bedevil homebuyers, despite mortgage rates falling to a three-year low, the National Association of Home Builders reported. 

Residences have access to on-site amenities like a pool, hot tub, dog parks, barbeque areas and green spaces.

Offerings in the community include Toll Brothers’ Kenly, Eastover and Lockhart designs.

The pace of new-home sales hit an annual rate of 800,000, its highest level since January 2022. 

At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

Phoenix isn’t the only southern city packing in new apartments, though. Over half of all new U.S. apartments in 2025 — which equates to over 265,000 units — are located in the south.

The upside surprise came despite monthly and yearly declines in the pace of sales. 

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.    

New single-family home construction declined as builders continue to grapple with macroeconomic headwinds. 

Scottsdale-based Sunbelt Holdings and Mosaic are collaborating on development, while Boston-based private equity firm Rockpoint is providing financing.

The organization issued a statement in support of the pro-development campaign at its annual meeting in Tampa. 

Homebuilder sentiment recently reached its third-lowest level since 2012.