By Kyle Backer | AZ Big Media
In the first live event hosted by Valley Partnership since the onset of COVID-19, four homebuilding experts traced the effects the pandemic has wrought on the Arizona homebuilding and housing market and what the industry needs to focus on to ensure a supply of affordable housing in Greater Phoenix.
A confluence of factors has pushed up home prices in the Valley. Arizona continues to be a destination for people and companies across the country. After the Great Recession, the supply of new homes built did not match the influx of residents to the Grand Canyon State. This lack of supply paired with high demand has made homeownership unaffordable for many buyers.
