Arizona’s booming population growth has made the state one of the fastest growing in the U.S. As is the case in other states experiencing an increase in population, Arizona now faces a severe housing shortage. In response, HB 2674 resulted in the creation of a legislative committee dedicated to finding solutions for this issue.
The Arizona Association of REALTORS® retained Anderson Economic Group to study the Arizona housing market and prepare a report to inform the legislature’s Housing Supply Study Committee. To accomplish this, AEG:
- Completed a literature and policy review on the housing market status in Arizona by:
• Compiling existing reports and analysis on the topic.
• Assessing existing housing and development policy.
• Attending legislative committee meetings to discuss housing policy and this initiative.
- Analyzed housing policy and barriers to development in Arizona.
- Analyzed the housing marking and availability for housing across key categories.
- Evaluated policy proposals in terms of their feasibility and potential impact on
the region’s housing supply.
The resulting Anderson Economic Group report lays out areas for improvement in the state’s housing policies. It further describes steps the legislature could take to improve capacity building, housing market regulation, and funding and land management in an effort to increase affordability in the region’s housing supply. Subsequently, the Committee released its recommendations, which included many of the solutions outlined in the AEG study.
Read Anderson Economic Group’s “Analysis of Housing Availability and Affordability in Arizona.”