By Ken Peterson | Phoenix Business Journal
The Phoenix metro housing market has been one of the hottest in the country the past few years as more and more companies begin or expand operations in Arizona. While it has been discussed at length that there is a housing shortage, I can assure you homebuilders are doing what they can to address the shortage and provide a variety of options to potential new buyers. Valley housing starts in 2022 were at their highest numbers since 2007, and we expect that to continue to rise next year.
Not only does this construction help the housing shortage, but it adds an enormous benefit to our job market. According to the Associated General Contractors, construction employment in Arizona in February 2023 totaled 194,400, an increase of 4,900 (3%) from February 2022 and an increase of 17,900 (10%) from February 2020.
Read the full subscription story from the Phoenix Business Journal.
