By Brent Ruffner | YourValley
Constant population growth and higher mortgage interest rates could hinder the Valley’s effort to keep pace with its housing shortage in 2025, according to some experts.
Now, the Valley housing market is “fairly stable” with about five months inventory of single-family homes available for buyers in the current market.
But the Valley won’t have a silver bullet to completely fix the housing shortage, said Kimberly Winson, a real estate professor at Arizona State University.
“(The Valley) is a desirable place to live,” Winson said. “Builders can’t build fast enough to keep pace.”
The Valley is home to “the fourth-fastest growing U.S. metro, housing demand has outpaced inventory for several years but (officials) are finally seeing momentum to meet” and balance demand, according to the Greater Phoenix Economic Council.
