By Roland Murphy | AZBEX
Last week we talked about the constraints holding back construction and completions, which had been a primary theme of the BEX Companies 2022 Forecast Event. For those of you who missed the event or the writeup, a major takeaway came from BEX Founder and President Rebekah Morris when she said, “We have projects that could go well north of 20 billion (dollars). The market can’t deliver them. We’re going to hold our projections flat. We think the market’s at capacity. Unless we get some massive increase in supply, we’re not going to be able to deliver a lot more.”
As the two hottest sectors, that holds particularly true for industrial and multifamily. Still, the sheer volume of projects in development has some researchers and analysts convinced that the market constraints – particularly in terms of labor and supply chain issues – will somehow break through the logjam and let the Greater Phoenix market deliver more than 20,000 new units in 2022.
