Metro Phoenix’s home building slump continued in November

housing slum in November

housing slum in NovemberBy Catherine Reagor, The Republic | azcentral.com

The new-home permit tally for last month was 612, down 6.3 percent from November 2013, according to RL Brown Housing Reports.

In November, 803 new houses sold across the Valley. That’s down 12 percent from a year ago.

During the spring, the recovery of the Valley’s home-building market appeared to be finally underway. But then new home construction began slowing again over during the summer.

Builders have been offering deals including no payments for a year and discounts of 10 to 20 percent on houses already built as they try to sell inventory before the end of the year.

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