Valley Home Sales Continue On Record Pace

The Phoenix Business Journal reports on RL Brown's latest Phoenix Housing Market Letter and his prediction that we will most likely set another record in 2005. Permits issued for new homes totaled 6,531, up nearly 10.9% over the 5,890 recorded in June 2004. Year-to-date 2005, 33,200 permits have been issued, up 15.6% from the same period in 2004.

Brown states that the median price for a new home in Metro Phoenix was $224,605, up 24% from a year ago, Resales totaled 13,750 in June, up 19% from 11,410 recorded in June 2004. YTD resales were at 68,719, up 30% from 2004 numbers for the same time period. More...