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New homes sales get summer boost

New homes sales get summer boostNew homes sales were up more than 25 percent in June compared to a year ago and are up more than 35 percent for the year, according to new numbers from Scottsdale-based RL Brown Housing Reports.

The much watched real estate data from Home Builders Marketing Inc. President Greg Burger and chairman RL Brown also show permits taken out by Phoenix area home builders for construction projects of new homes were 15.5 percent in June versus a year ago and are up 19.7 percent for the year.

But the median price for new homes in June is $300,000. That is down 3 percent from June 2015.

The new homes market in Arizona is still looking to get to pre-slowdown volume.New homes sales & builder permits get summer boost

The resale market is showing more modest sales growth and prices for new and existing homes also show single-digit price gains from 2015.

The median price for an existing single-family home in the Phoenix metro area was $220,000.

Here’s the June numbers from RL Brown:

New homes sales (June 2016): 1,426

New homes sales (June 2015): 1,139

Percent change: 25.2%

 

New home sales (YTD 2016): 7,012

New home sales (YTD 2015): 5,179

Percentage change: 35.4%

 

Median new home price: $300,000

Percent change from 2015: -3.2%

 

Builder permits (June 2016): 1,939

Builder permits (June 2015:) 1,679

Percent change: 15.5%

 

Builder permits (YTD 2016): 9,358

Builder permits (YTD 2015): 7,821

Percent change: 19.7%

 

Existing home sales (June 2016): 9,936

Existing home sales (June 2015): 9,641

Percent change: 3.1%

 

Existing home sales (YTD 2016): 50,845

Existing home sales (YTD 2015): 47,758

Percent change: 6.4%

 

Median home prices : $220,000

Percent change from 2015: 1.3%

 

Source: RL Brown Housing Reports

Article produced by: http://www.bizjournals.com/phoenix/news/2016/07/18/new-homes-sales-builder-permits-get-summer-boost.html

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