UA Predicts Housing Market Rebound

As a real estate agent and Arizona State grad, this is the ultimate win-win.

If the prediction is correct, we’ll finally see prices start to move forward more consistently.

If the prediction is wrong, it’s just another example of the ignorance bred at U of A.

The quick excerpt:

The UA Economic and Business Research Center report predicts that new-home permits in metro Phoenix this year will jump 54 percent from last year to 13,320. Then, permits will more than double to 28,060 next year.

That is still a long way from the Valley’s peak building years of 2004-05 when close to 60,000 new homes were built in each of two straight years.

The university’s forecast predicts that new-home permits will fluctuate from 35,000 to 40,000 annually from 2012-16.

That would appear to be a more sustainable number than 60,000 permits annually, especially with the Valley’s expected population growth.

About Jonathan

Jonathan Dalton is a 30-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

  • Kyle

    typical UA bravado. I will give them credit for making a bold prediction at least. Every other “housing economist” including ASU’s say the same old blather… “we see signs of strengthening and leveling off in the market as sales are up significantly due to low rates and tax incentives, however the outlook remains subdued because of the strain on the market of rising foreclosures and interest rates”…

    I think that sums up 95% of all outlooks out there. The other 5% are split between extreme bears and bulls.

  • Jonathan Dalton

    Had to tweak U of A for the fun of it, Kyle. 🙂

    You are right, though, the language here is a lot stronger than you normally would see from any economist. We’ll see what happens.