FOR IMMEDIATE RELEASE
Tuesday, April 23, 2024
Republicans Cut Local Government Red Tape to
Speed Up Homebuilding and Lower Prices for Hardworking Arizonans
PHOENIX, ARIZONA— Senate Republicans are celebrating today's signing of a bill, sponsored by Senator Janae Shamp, to help mitigate Arizona's housing shortage and the associated skyrocketing prices currently preventing many hardworking Arizonans from affording the American dream of homeownership.
There's a national shortage right now of approximately 7.3 million homes. In Arizona, 270,000 additional homes are needed to meet the demands of our residents. This deficit is directly responsible for rising prices. In fact, the average home price in Arizona is $430,000, which is 20% higher than the national average. Homebuilders attempting to increase supply are being met with roadblocks imposed by cities and towns, which are slowing the construction process and contributing to the rising costs homebuyers are encountering.
SB 1162 cuts the unnecessary government red tape, responsible for prolonging approvals on zoning applications needed for home construction to begin, by requiring local governments adhere to reasonable timelines to help expedite the homebuilding process in an effort to increase supply and lower prices. The bill also requires cities and towns to conduct and publish a housing needs study every five years to proactively assess current and anticipated demand for homes in order to swiftly respond to housing shortages.
"Every hardworking citizen within the state of Arizona should be able to afford a home in a safe community. Unfortunately, the American dream of homeownership has become unattainable for many Arizonans over the past five years because of increased demand combined with irresponsible actions from local governments," said Senator Shamp. "Republicans at the Arizona Legislature are committed to solving Arizona's housing shortage crisis, and this is just a small piece of the puzzle. Government helped create this problem, and we will continue to craft policy getting government out of the way so the free market can respond to our citizens' needs. I want to thank Representative Matt Gress for working on this legislation with me, and I look forward to taking additional action with Republican lawmakers to offset the crippling inflation Arizonans are struggling with under the Biden Administration."
SB 1162 takes effect 90 days after adjournment of the legislature.
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For more information, contact:
Kim Quintero
Director of Communications | Arizona State Senate Republican Caucus