New Home Sales Climb 2%

The Arizona Republic reports that sales of new homes nationwide in May climbed to the second highest level in history, providing further evidence that low mortgage rates are still fueling the booming housing market. Metro Phoenix's new home market slowed slightly in April, according to local housing analyst RL Brown, but overall, new-home permits are up 18.9 percent for the year. "The big key going forward will be what happens to long-term interest rates," said David Seiders, chief economist at the National Association of Home Builders. "I think we will see some modest fade in the numbers for both new and existing homes by the end of the year," he added. New
homes for sale in Central Arizona.
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