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IPFS News Link • Housing

Phoenix, Arizona Housing Construction Hits 20 Year Low

Housing analyst RL Brown called January a “statistically lousy month for new homes in metro Phoenix.” In January, 358 new-home permits were issued in the region, a 20-year low for the month. New home sales totaled 387. Brown and Greg Burger, publishers of the Phoenix Housing Market Letter, drew a record crowd to their housing forecast event last month. Many in the home building industry are trying to figure out when the market will improve. Brown and Burger do expect better results for the home building industry this year.