
Out of Reach: As housing prices cool, homebuyers face competition from investors
For the past two years, housing prices have gone up in Phoenix. Now the hot market is cooling down. In the meantime, investors are taking advantage of the decreasing home costs. To learn about the current real estate market, The Show spoke with ASU real estate expert Mark Stapp.
In this story aired Aug. 8, 2022, in the The Show's Out of Reach:
The market is going to balance itself. The fact is we still have a supply and demand imbalance. As long as metropolitan Phoenix and the state of Arizona, in general, have economic expansion the way it has had, there's going to be a demand for housing. There's a lack of it — all kinds of it — not only single-family detached but all forms of housing. We're severely under-built, like 120 to 125,000 units short of where we should be.
– Mark Stapp, Fred E. Taylor Professor of Real Estate and executive director of the Master of Real Estate Development program
Latest news
- Arizona and Mexico officials to meet for trade summit, address tariff concerns
ASU supply chain management expert calls Arizona-Mexico Summit a smart, strategic move for…
- Swiping right on leadership
Whitney Wolfe Herd is reshaping tech to work better for women — beginning with the mission-…
- Tariff engineering: The legal way companies avoid paying higher import taxes
Strategies like tariff engineering benefit companies but hurt consumers, says an ASU economist…