Why metro Phoenix houses are so expensive, explained in one chart
Source: Axios Phoenix
In an easy-to-grasp graphic titled “Existing housing units relative to population demand in the Phoenix metro area,” this article lays out why home prices are stubbornly stratospheric. Surprise: High demand and low supply. Home and apartment development fizzled out after the 2008 crash and never picked up steam to any extent until the past couple of years. However, Maricopa County continues to lead the nation in population growth, so we’re still way behind in providing places to live and need to spur even more building to make more than just a dent in the shortage.
Source: https://www.axios.com/local/phoenix/2024/01/02/housing-phoenix-expensive-chart-inventory
