‘It was perfected here in Arizona’: Phoenix ranks first in US for new build-to-rent homes

PHOENIX — More homes were built to lease in Phoenix than anywhere else in the United States.According to a report from Northmarq, Phoenix saw nearly 6,000 of these homes constructed in 2022, beating out Dallas, Houston, Orlando, and Atlanta.Experts like ASU’s Mark Stapp aren’t surprised.“Not at all. The product type started here in Arizona. It…

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Arizona announces limits on construction in Phoenix area as groundwater disappears

CNN  —  Arizona officials announced Thursday the state will no longer grant certifications for new developments within the Phoenix area, as groundwater rapidly disappears amid years of water overuse and climate change-driven drought. A new study showed that the groundwater supporting the Phoenix area likely can’t meet additional development demand in the coming century, officials…

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