The Common Sense Institute’s May 2024 Housing Report Card grades Arizona’s housing market a “C+,” highlighting its high costs and supply-demand disparity compared to historical and national standards. With above-average inflation and rapid home price increases, Arizona is increasingly expensive to live in compared to other states. The report emphasizes the significance of local permitting in relation to housing supply and anticipated population growth. While Arizona is projected to issue over 66,000 permits in 2024, some jurisdictions within three counties lag behind in keeping up with population growth, with Pima County particularly struggling, earning a “D” in permitting efforts.
Source: https://commonsenseinstituteaz.org/does-your-community-have-enough-homes/
