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Sunday, June 2, 2013

Metro Phoenix new-home permits up in April


New-home permits climbed in metro Phoenix during April, but new-home sales fell, according to the latest RL Brown report.

The decline in sales isn’t due to a drop in demand, though, according to housing analysts RL Brown and Greg Burger. They concluded fewer homes sold last month than in March because there were fewer built and ready for buyers to close on them. Last month, 1,290 single-family permits were issued, up from 1,258 in March.

New-home sales in April fell to 860, compared with 1,020 in March. The top spots for new-home sales in April: Gilbert, Queen Creek, the southwest Valley next to Interstate 10 and Vistancia in the northwest Valley, as well as other areas close to the Loop 303.

Median new-home prices in Maricopa County have been climbing since September and recently topped $280,000, according to Brown’s April Phoenix Housing Market Letter. In Pinal County, the median price is almost $189,000.

Read more: Metro Phoenix new-home permits up in April

Reuters: Business News

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