Homebuilders opt to deliver luxury homes as building costs increase

By Lauren Marshall | AZBigMedia

Arizona’s housing market is getting more competitive leaving those at the lower end of the market struggling to compete, and many developers opting to build luxury homes and projects instead.

A new study from the National Association of Realtors shows that sales for cheap housing options are decreasing while luxury housing sales have increased by 20 percent during the month of July.

Mark Stapp, a real estate professor at Arizona State University’s W.P. Carey School of Business, said these trends are due to extremely low inventory in Arizona’s housing market.

“The market is extremely tight right now, more than it’s ever been,” Stapp said.

READ ON:

Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories
September 2017
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930