The Arizona Republic
After several weak years, new-home sales are finally picking up steam in Surprise.
During the past year, strong demand from homebuyers has helped developers sell more new homes in Surprise, according Home Builders Association of Central Arizona’s permit figures. Those home sales have also helped spark more retail development, a city official said.
So far this year, Surprise new-home permits have jumped 85 percent. While 220 total permits were issued in 2011, 407 permits have been issued from January to August in 2012.
Experts and builders expect housing permits to remain steady over the next year.
New homes are attractive to regular buyers, who find it difficult to compete with investors who are buying resale homes with cash.