The Greater Phoenix housing market has been dominated by supply constraints for the last two years and it now looks as though this will continue for quite some time. The chronic shortage applies both to homes for purchase and homes for lease, though it is most severe for low priced homes i.e. under $200,000 for purchase. The most fundamental of the many drivers of the housing market is the balance between our population growth and the net number of homes added to the housing market supply.
For full article see: http://www.angjohnson.com/shortage-of-homes-to-sell-in-metro-phoenix-3-to-1/
