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Arizona's housing market is heating up. Is an affordability crisis looming?

Real estate sales in the Phoenix area this summer hit a record not seen since 2007. An ASU real estate expert says many factors are leading to this boom.

Real estate sales in the Phoenix area this summer hit a record not seen since 2007. An ASU real estate expert says many factors are leading to this boom.

In this story published Aug. 23, 2020, on KJZZ:

The interest rate reduction has obviously helped substantially — I think we have been a net benefactor of people’s behavioral changes related to COVID, they’re wanting to move out of more dense places. You take all of that and a really low inventory, and you're going to see exactly what's happening now, and that is pushing prices up.


Mark Stapp, executive director of the Master of Real Estate Development program and Fred E. Taylor Professor in Real Estate

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