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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New Home Sales Climb as Investors Pay Cash

By Catherine Reagor | Arizona Republic New homes in metro Phoenix are selling at the briskest pace since the 2006 housing boom, but some of the buyers may not be as welcome in your neighborhood. Investors are back in the Valley’s new-home market. During the last boom, speculating investors snapped up a record number of …

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