By Catherine Reagor | The Arizona Republic
Metro Phoenix’s new-home market has been affected by too few construction workers and a lack of affordable lots in areas popular with buyers. Now, higher interest rates and tighter lending standards also appear to be deterring prospective buyers.
Homebuilding permits were down in July compared with the same month a year ago, according to RL Brown Housing Reports. Builders took out 1,190 single-family permits in July, down 9percent from July 2012. In June of this year, 1,146 permits were issued Valley-wide.
