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Phoenix new-home market not as hot as people think?

Fulton Homes CEO Doug Fulton
Fulton Homes CEO Doug Fulton

By Kristena Hansen | Phoenix Business Journal

Tempe-based Fulton Homes CEO Doug Fulton has a message for his colleagues: the Phoenix area new-home market isn’t nearly as hot as you think it is.

In a statement this week, Fulton said new-home closing figures — such as the 23 percent-year-over-year spike in September, as reported by Arizona State University last week — are misleading out-of-state and unfamiliar homebuilders into believing the time is now ripe to enter the Phoenix market and strike it rich.

Continued:

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