Phoenix new home market slows and permits, closings decline

slow downBy Kristena Hansen | Phoenix Business Journal

The new home market’s performance across metro Phoenix continued to disappoint homebuilders during the first two months of the year. The number of new-home permits issued in January and February combined were 1,490. That’s down 22 percent year-over-year, according to a new report today by RL Brown Reports.

New home closings for the same two-month period were almost equally as disappointing, with a 20.2 percent drop from a year ago.

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