Central Arizona's New Homes Market Cooling

Central Arizona's new homes market shows slight signs of cooling...

The Phoenix Business Journal reports that there was a slight downtick in new home permits in August, according to the latest Phoenix Housing Market Letter from R.L. Brown. "We sense a change in the pressures on the new housing market may have occurred, and we are relieved," Brown stated.

Permits for August were at 5,548, down 3.7 percent from August 2004. Through August, 43,825 permits were issued, up 6.6 percent from 41,102 issued for the same eight month period in 2004. In the resale market, 12,573 homes were sold in August, up nearly 20.8 percent from August 2004. Through August 2005, there have been 94,012 resales, up 27 percent from the same time period in 2004. More...

Looks like another new record this year!