Concern grows surrounding home sale slump

More from this show

Mark Stapp, Professor at Arizona State University’s W. P. Carey School of Business, joined Arizona Horizon to review concerns surrounding home sales.

Stapp attributed the slump to the effect of higher interest rates and low inventory. He also expressed his concern that home builders aren’t adding new inventory ahead of demand which, assuming the market gets active again, will push prices back up if interest rates come down. 

Stapp says that people who have been in their homes since the interest rates were very low aren’t motivated to move. As a result, it doesn’t create a fluid housing market and because of that inventories are tough.

Stapp also does not anticipate a decrease in prices and we will see prices continue to rise.

Mark Stapp, Professor, W. P. Carey School of Business, ASU

Bob Ross with text reading: Paint Like Bob Ross with Nicholas Hankins October 29th 5pm
Oct. 29

Paint like Bob Ross with Nicholas Hankins: Virtual event

Illustration of columns of a capitol building with text reading: Arizona PBS AZ Votes 2024

Arizona PBS presents general election debates

A beautiful view of Sedona's Red Rock State Park
Oct. 18

Explore Sedona with friends of Arizona PBS

A graphic for

Take the ‘Voter Ed’ election-ready challenge

Subscribe to Arizona PBS Newsletters

STAY in touch
with azpbs.org!

Subscribe to Arizona PBS Newsletters: