One of the important elements of the Master of Real Estate Development (MRED) program at ASU's W. P. Carey School of Business is teaching and preparing development professionals to be industry leaders. There is no more important role.

Supply in the Phoenix real estate market is not yet back to normal, but it is clearly getting much stronger. Demand, meantime, has cooled as investor interest wanes and ordinary homebuyers hang back.

 Rumblings in the media hint that rising home prices could be the start of a new bubble, but real estate expert Mike Orr says that researchers who are examining the data don’t believe it. Instead, he says Phoenix is experiencing a market come back.

Although many people may find it hard to believe, the Phoenix area is facing a growing housing shortage, according to real estate experts Mike Orr and Mark Stapp from the W. P. Carey School of Business, who were featured speakers at a forum on April 6.

With prices on the rise and population growing faster than other places, Phoenix is once again looking good to homebuilders. That means land is very desirable — especially lots ready for development. In this podcast, Mike Orr, director of the Center for Real Estate Theory and Practice at the W.

The so-called millennials, like the baby boomers before them, are causing major shifts as they move through life’s stages. And while boomer retirement is impacting the economy, the millennials are poised to drive even more change.

Historically, the heat of summer wilts the Phoenix housing market, a phenomenon reflected in the June housing report from the Center for Real Estate Theory and Practice at the W. P. Carey School of Business.

Development is re-awakening in Phoenix following a pause in activity that was enforced by the recession.

Some real estate commentators are making ominous predictions that the market is once again inflating like a bubble. But Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business, says there is no evidence in the data to support their assertions.

Each year Urban Land Institute Arizona presents “Trends Day” -- a major event designed for professionals in the real estate and development industries -- to inform and to spark discussion about current conditions and the latest thinking in planning, design and development.