Phoenix area home builders see an increase in buyers for the first time in 6 months.

arizona buildersAccording to RL Brown’s recent Phoenix Housing Market letter, there were 1183 single family new housing permits issued last month.  That’s the most new home building permits in the last 6 months and a 57% increase over May’s permits.  Even better, the pace is expected to continue! 

This is great news for Valley builders, many of whom have adjusted their home products to accommodate today’s struggling economy. 

Fulton Homes, for example recently announced a new scaled down product in their Mediterranean Subdivision at Fulton Ranch in Chandler, AZ.   Fulton Homes decision to adjust their home product and prices is probably one of the contributing factors to Fulton Homes being named the second busiest home builder in June with 122 new home permits according to the RL Brown letter.

In June, Taylor Morrison with 135 new home permits topped the list as the busiest Valley Home Builder list and Pulte Homes rounded out the top 3 with 118 new home permits.

The median price of a new single family home in the Phoenix metro area was $190,000 in June as compared to a median price of $120,000 for a single family resale home, according to the RL Brown’s Housing Market Letter.

Good news for a change…now where are all those news reporters shouting this from the rooftops?