New-home permits up in metro Phoenix, but sales falter

New homesBy Catherine Reagor, The Republic | azcentral.com

Homebuilding in metro Phoenix ticked up slightly in April, but it’s not likely a sign of a long-anticipated market rebound because new-home sales fell.

Last month, 1,087 permits to build new houses were issued in the Valley, compared with 996 in March, according to analyst firm RL Brown Reports.

New-home sales dipped to 730 in April from 856 in March.

The median price of a new house inched up $200 in April from March to reach $291,402.

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