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AZ Housing supply study committee comes to Tucson to address housing shortage

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House / home / housing market

TUCSON (KVOA) — Arizona's housing market continues to be tight.

The Housing Supply Study Committee is inviting the public to attend a meeting Monday at 1 p.m. at City Hall to address their concerns about the current housing shortage.

"Our supply is very, very low," said Jodi Koch.

Jodi Koch, with the Tucson Association of Realtors, says as prices increase, so has the difficulty in putting in a competitive offer.

She shares the story of a couple currently struggling with their search.

"With cash buyers, people who could waive their appraisal, people who could offer more than the house was really worth, and for my buyer, that was not an option with their funding," said Koch.

This couple is still looking for a home.

"That same buyer today, now it's been a year and a half, housing prices have shot up between 50 and 100 thousand in the last two years, interest rates have gone from three to five point seven five approximately, and that puts my buyer in harm's way," said Koch.

Koch says Tucson needs to continue building, and they need to continue building for a certain price range.

"We need homes in the price range of 200 to 300 and 50 thousand. That is homes for our essential workers," said Koch. "Those buyers who want to live where they work, to provide the services to all of us. And those are the homes that we don't really have right now."

She hopes the committee will listen to her advice.

"I believe that it's pertinent that they meet with successful realtors to gain the insight of what's really going on," said Koch.

Co-chair of the committee, Steve Kaiser, says gaining insight is the goal of this meeting.

"We really want this to be a listening session. So we wanna hear from obviously the local city governments on how they build right now, what there permitting and zoning processes are, we wanna hear from local citizens as far as what they're seeing, and we wanna hear from local builders too, what construction restraints or positives are they seeing," said Kaiser.

The Housing Supply Study Committee is going to take the information they obtain during this meeting and create a report based on what they find. They're hoping with this report, they can make a game plan moving forward to address the housing concerns.