What cooling market? New home demand ticks up in Phoenix area

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What cooling market? New home demand ticks up in Phoenix area
What cooling market? New home demand ticks up in Phoenix area

PHOENIX – According to a new report from market research company Zonda, the demand for new homes is increasing in the metropolis of Phoenix.

According to Zonda’s latest property report, demand rose 7% in mid-November compared to mid-October.

Within the last 30 days, Zonda has tracked a total of 1,783 new sales contracts for new homes.

Compared to previous years, demand in mid-November was 29% lower than a year ago, but 4% higher than two years ago when it was a more normal market environment, said Steven Hensley, advisory manager at Zonda.

“This is noteworthy given that subdivisions are currently 21% less actively selling than they were two years ago,” he said. “This means that home builders are selling, on average, more homes per subdivision than they did two years ago, and demand is still healthy even after major new home appreciations.”

Read more about this story from the Business Journal.

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