Phoenix area land sales are down 40 percent from last year as housing starts and demand for single-family homes ebbs.
According a new report out from Colliers International, the volume of land sales in the Phoenix area was down 40 percent during the first half of 2014 compared to the same time frame in 2013 and is 30 percent down from the latter half of last year.
Builders pulled 6,400 single-family permits during the first two quarters of 2014, down 7 percent from the first half of 2013, according to Colliers.
