Mortgage And Real Estate News

Saturday, August 24, 2013

Phoenix housing: New homes on rise, but construction slowed

Homebuyers looking to purchase a house before prices and interest rates climb higher are filling builders’ sales offices on weekends.

New houses are springing up around the Valley, and builders are buying more land for new subdivisions.

They are all welcome signs that the slowly recovering housing market is picking up as metro Phoenix continues to pull out of the recession.

More homes are being built than last year, but the pace of the recovery is not accelerating as fast as had been anticipated. According to industry experts, new-home construction will climb at less than half the rate expected earlier this year.

Read more...Phoenix housing: New homes on rise, but construction slowed

Reuters: Business News

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