Editor's note: The population in the Phoenix metro area has exploded over the past decade, with waves of new construction spilling into formerly rural communities. This two-part series examines the cause of this desert bloom and its effect on local real estate markets. (See Part 1.) New-home construction in the Phoenix area is analogous to the pink Energizer bunny's incessant drumming. "It never really has slowed down," said Michael Chasse, a home builder specialist with the Land Advisors Organization, a land brokerage company. "Since 1992 every year has been an increase from the prior year. We have been on a constant run. There are some who think that perhaps the market may fall off a little bit. Others think it will continue to drive forward." Residential building activity is a major ec...
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