Permits rise in March, but homebuilding still slow

By Catherine Reagor, The Republic | azcentral.com

New-home permits ticked up slightly in March compared with February, but permits were down compared with March 2013. The long-awaited recovery for new home construction in the Valley has yet to happen.

Last month, 996 permits for new single-family Valley houses were issued, 98 more than in February, according to the latest issue of RL Brown Reports. In March 2013, builders took out 1,258 new-home permits in the Phoenix area.

New-home sales also climbed to 856 in March from 724 in February. The median price of a new house climbed as well, to $291,205 from $287,504.

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April 28, 2014

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