By Angela Gonzales | Phoenix Business Journal
Homebuilders pulled 9% more single-family building permits in 2019 than they did during 2018, according to data released by the Home Builders Association of Central Arizona.
In 2019, homebuilders pulled 24,476 single-family building permits. That was above the 22,437 permits they pulled in 2018, according to HBACA. Here is a breakdown showing which parts of the region saw the biggest gain in permits:
While Jim Belfiore, president of Belfiore Real Estate Consulting, expects the low inventory in the region to fuel more growth in 2020, homebuilders are a bit more conservative — yet still optimistic for continued growth in 2020.
“In general, 2019 was a very good year for homebuilding in the Phoenix metro area,” said Jeff Gunderson, senior vice president of acquisitions and development for Miami-based Lennar Corp. (NYSE: LEN) “We’re set for modest growth again into 2020. We feel like there’s mostly tailwinds in this market.”
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