Phoenix real estate: Prices up, investors fade, homebuilding sluggish
In a market with chronic supply shortages, normal demand can drive prices up. That continues to be the case in the Phoenix market, according to Mike Orr, director of the W. P. Carey School’s Center for Real Estate Theory and Practice and author of the monthly Phoenix housing report. After a mid-winter lull, housing prices are climbing again, further dampening what was already waning investor interest. And that upward pricing trend may be one reason homebuilders are in no hurry to increase production, despite buyer interest: waiting should mean getting more for new homes.
In a market with chronic supply shortages, normal demand can drive prices up. That continues to be the case in the Phoenix market, according to Mike Orr, director of the W. P. Carey School’s Center for Real Estate Theory and Practice and author of the monthly Phoenix housing report. After a mid-winter lull, housing prices are climbing again, further dampening what was already waning investor interest. And that upward pricing trend may be one reason homebuilders are in no hurry to increase production, despite buyer interest: waiting should mean getting more for new homes.Full Report and Data. [podcast] Listen to the March 8 podcast
Latest news
- So bad it’s good: Why consumers love the worst entertainment
An ASU marketing professor's research investigates why consumers prefer bad movies, video clips…
- Why invest in ASX tech stocks?
An ASU finance expert's research study examines net wealth creation over 90 years.
- Gov. Hobbs vetoes affordable housing bill. Here's where first-time homebuyers can find hope
An ASU real estate expert discusses the complexities of affordable housing solutions in Arizona…