I believe we are headed for a housing shortage in the Phoenix Arizona area. We have 3.79 month supply of inventory on the market for the month of March 2016. Builders have not been building to keep up with the population growth. Houses under the $250,000 price range are receiving multiple offers and buyer's are bidding more than asking price. This shortage will make 2005 prices look cheap!
My question to my real estate community is, do you think we are heading for a housing shortage?
Michelle Quackenbush
RE/MAX Premier Properties
602-999-2627
ReMaxQ@gmail.com
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