Phoenix one of the country’s most undersupplied markets

by Emily Marek

John Burns Real Estate Consulting released a report titled America’s Needed Housing Construction, which outlines the U.S. metropolitan areas that are most in need of housing units.

Based on current vacancy rates, the real estate consulting firm concluded that Phoenix is one of the most undersupplied markets in the country. Joining Phoenix on the list are Riverside-San Bernardino (No. 1), West Palm Beach (No. 2), Tampa (No. 3) and Fort Worth (No. 5). All five of these metros had vacancy rates far below historical norms.

John Burns also gauged supply levels by analyzing overcrowding conditions. When measuring the number of adults per household, California metros ranked in all five top spots: Riverside-San Bernardino, Sacramento, Oakland, Anaheim and San Diego all have more adults per household compared to historical averages.

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