Optimism in the Phoenix housing market

Optimism prevails in the Phoenix real estate market, according to expert Mike Orr, speaking at the Economic Club of Phoenix. Overall supply, which has been low, is now 77 percent of normal and rising fast, he said. But demand is 99 percent normal, which means prices are rising.

Optimism prevails in the Phoenix real estate market, according to Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business. Overall supply, which has been low, is now 77 percent of normal and rising fast, he said. But demand is 99 percent of normal, which means prices are rising, too. Orr presented his data during the Economic Minute, a regular feature of the W. P. Carey School’s Economic Club of Phoenix luncheons.

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