Are rising home prices a threat to the Valley’s economy?

By Angela Gonzales | Phoenix Business Journal

Threat: Affordability. The Phoenix metro is seeing a flood of new residents moving from their homes across the nation, especially in dense areas like New York City and high-cost areas like Los Angeles and San Francisco. They are trading their $1 million cookie-cutter homes in California and dense flats in New York for spacious, luxury homes in the Valley.

But with housing inventory near an all-time low, demand is far exceeding the current supply. That is causing home prices to skyrocket, with the Phoenix metro repeatedly topping the nation in home price growth. Rapidly rising prices is a threat to the low cost of living — one of the things that makes the Valley an attractive place to live.

Read the full subscription story from the Phoenix Business Journal.

Share this!

Additional Articles

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