Phoenix new home building permits hit a 5-month high in January!
Hello!
There was a great article on www.azcentral.com today. It detailed that in January, the Phoenix Metro area hit a 5-month high for number of building permits issued.
What does this mean?:
1. Builders are selling their excess inventory homes. For some time, they were carrying far more "Spec" homes than normal, due to over-estimating buyer interest, and buyer fallout. Finally, they are selling off these homes, and are pulling permits to start new ones - to meet buyer demands.
2. More buyers are re-entering the market! After carrying too much inventory, builders are going to be more cautious/realistic in the number of speculative homes they start. They are going to try to keep pace with buyer demand.
We've said it all along - Phoenix is, and will continue to be - a great place to live, invest in a home, and work. While there are many 'doom-and-gloomers' out there, saying the housing boom has busted, this is simply not true for the Phoenix metro area!
To read the full article and get statistics, click HERE.
Sharon Kotula, ABR
Adam Tarr, e-PRO
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333