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Arizona Sets Limits on Phoenix Construction as Drought Worsens

Pro Builder

Earlier this year, Arizona projected that developers planning to build homes in the desert west of Phoenix don’t have enough groundwater supplies to complete their projects, another blow to home builders and buyers contending with steep price gains in a nationwide housing shortage.

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Feds Approve $529.8M for Phoenix Light Rail

Construction Equipment

The newest line of Phoenix's Valley Metro light rail is one step closer to reality, according to KTar News. The public transportation network received $529.8 million in grant funding from the U.S. Department of Transportation’s Federal Transit Administration on Wednesday. The funding will go…

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Migrating Americans Are Driving Up Home Prices in Popular Metros

Pro Builder

Migrating Americans Are Driving Up Home Prices in Popular Metros. Remote workers and movers motivated by the pandemic are flocking to Sun Belt cities like Phoenix, where prices are peaking and inventory is declining. According to Redfin, 31% of online users expressed interest in moving to another metro in 2021, up from 25.6%

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These Oversupplied Metros Could See Major Price Drops by Late 2024

Pro Builder

Formerly red-hot housing markets such as Seattle, Phoenix, San Francisco, and Austin, Texas, have seen substantial increases in inventory, and as a result, each metro is expected to see a double-digit price correction by late 2024. decline in home prices for 2023. decline in home prices for 2023.

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Metros Where New Rental Construction is Thriving

Pro Builder

Metros Where New Rental Construction is Thriving. The metros posting the highest expected rental unit openings this year range from Seattle to Dallas, but Charlotte, NC posted the highest one-year change in rentals added, up 10,723 units for a 100% increase. cbroderick. Fri, 09/10/2021 - 09:32. from 2020 levels. Read More. .

Metro 95
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Despite a Cooler Market at the Start of 2023, Rents Are Still Rising in These U.S. Metros

Pro Builder

While metros such as Salt Lake City, Jacksonville, Fla., While metros such as Salt Lake City, Jacksonville, Fla., On a year-over-year basis, rents are down 1.0% in Las Vegas, and barely up at all in Phoenix (1.1%), Sacramento (2.1%), Baltimore (2.6%), and New Orleans (2.8%). Typical asking rents are at $1,970 nationwide, 6.9%

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A Record Share of Homebuyers Relocated to These Metros in Q4 2022

Pro Builder

A Record Share of Homebuyers Relocated to These Metros in Q4 2022 ldeakins Tue, 01/24/2023 - 11:32 A quarter of all homebuyers looked to move to a new city in the fourth quarter of 2022. Here's where they went. Markets such as Sacramento, Calif., Read more Housing Markets New-Home Sales Housing Markets

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