Homebuilder Taylor Morrison's purchase of California company may bring new development to Valley

Director of the Master of Real Estate Development program Mark Stapp says new homes are at critical lows in many metro areas, but especially in Phoenix.

Director of the Master of Real Estate Development program Mark Stapp says new homes are at critical lows in many metro areas, but especially in Phoenix.

In this story published Feb 12, 2020, on KJZZ:

We under-built for many years, then builders started to pick up the pace again, but there was much overhang from the recession. So we had limited supply to begin with. We have a constrained supply going forward. And we have substantial population growth.

– Fred E. Taylor Professor in Real Estate Mark Stapp, who is the executive director of the MRED program