At the height of Phoenix’s excess, in 2005, homebuilders were constructing 4,000 homes a month, bulldozing one acre of land every hour.
By 2008 the city was the epicenter of the country’s housing market crisis. Prices rose more precipitously and fell faster than most anywhere else.
It was among the most overbuilt of the overbuilt sand cities, optimistic right up until the collapse. Home values fell by 55 percent from 2006 to 2011.
Phoenix housing boom makes comeback
Most Popular Articles
Latest Articles
CoStar Group finds success through the sale of Homes.com memberships
The company boosted its revenue by 12% year over year in Q1 2024