New Valley Home Sales Rebound After December Dip

By Angela Gonzales | Phoenix Business Journal While new home sales dipped in December nationwide, Phoenix is already beginning to see a rebound. Nationwide, new single-family home sales slipped 0.4% in December to 694,000 units, marking the U.S. housing market’s third consecutive monthly drop since hitting near-cycle highs in September, according to a BMO Capital …

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Valley Single-Family Permits Surge, Hot Spots Emerge

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 …

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Lack of Valley Inventory Big Catalyst for New Home Sales in 2020

By Angela Gonzales | Phoenix Business Journal Jim Belfiore suggests that homebuilders should cancel their vacation plans. In his 2020 market update, the founder of Phoenix-based Belfiore Real Estate Consulting said he expects a busy season for new home sales, especially because existing home market inventory is so low. Metro Phoenix has 15,301 total listings, …

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