New Home Build Sales And Permits Are Up

New Home Build Sales And Permits Are Up

New home sales are up around the Phoenix Metro area and builders continue to take out more permits for new construction compared to last year.

That is according to the latest data from Scottsdale-based research firm RL Brown Housing Reports.

RL Brown’s February numbers show there were 980 new home sales in the Phoenix market last month. That’s a 38.2 percent jump from the 709 new homes sold in February 2015.

For the year, there have been more than 1,700 new homes sold — up 29 percent from the first two months of 2015.

The median new home price this year is just over $304,000, up 3.1 percent from last year.

Builders also continue to take out more permits for new home construction. They took out 1,380 permits in February, up 32.4 percent from last February, according to RL Brown. New home permits are up 43.2 percent for the year (2,637 vs. 1,841 permits taken out in January and February 2015.

Existing home sales were also up in February though prices are flat.

RL Brown reports 6,500 existing home sales in February up from 6,117 such sales in February 2015.

The median home price in the Valley is $200,000 down a 0.7 percent from a year ago.

Source: New Home Sales, permits up again in February.  Phoenix Business Journal  (March 22nd, 2016)

Matt Pennington Headshot
Phone: 480-251-0280
Dated: March 28th 2016
Views: 144
About Matt: Matt has been a licensed Real Estate Broker since 2003 and with American AllStar Realty since 2005. ...

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