Metro Phoenix homebuilding hits decade high - Sounds Good to Me

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Phoenix went from bad to worse to worst(?)  when the housing market crashed. That was then, this is now!

I'm enjoying the ride. I find that the influx of people from other parts of the country (the soon to be 3 Californias, if they have their way, for instance)  and from the midwest have really brought back the Phoenix (Maricopa County) markets. High Tech companies are moving into the area which creates jobs. Of course, since I buy "off market" and cash flow the properties I'm particularly happy.  ;-)

Today's Newspaper

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"Metro Phoenix homebuilding hits decade high"

New houses are going up in the Phoenix area at the fastest pace in 10 years, and prices are climbing faster than they have in five years.

Buyers are again heading to Valley suburbs farther out to find houses they can afford.

By the building numbers

More than 1,950 new houses sold Valleywide in May, and the pace of sales for the year is 18 percent ahead of last year, Belfiore Real Estate Consulting reports.

May was the best month for new house sales in metropolitan Phoenix since March 2008, according to RL Brown’s Phoenix Housing Market Letter.

Brown reports the median new house price in the Valley is up almost 3 percent from last year to $330,000. That's about $65,000 more than the area's median existing house sale price.

Jim Belfiore said demand from buyers in the spring gave homebuilders the confidence to push prices upward at the most significant pace in nearly five years.