Is housing glut over? Experts predict housing shortage by spring

Real estate experts predict the Valley’s years-long housing glut is reaching its end and, as early as this spring, could stun home buyers by transforming into a shortage.

The crunch is expected to be more pronounced in the East Valley, where some subdivisions are approaching build-out and other builders are raising prices.

The prediction may seem outlandish given how gloomy real estate news has been for years, said Mike Orr, director of the Arizona State University Center for Real Estate Theory and Practice.  More...