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Belfiore: New home sales see biggest demand jump since 2007

Posted by   /  June 20, 2019  /  No Comments

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By Mike Sunnucks | Rose Law Group Reporter

Housing demand has bounced back in a big way.

New home sales are 16 percent in mid-May to mid-June compared to a year ago, according to data from Belfiore Real Estate Consulting.

“It is a huge deal.  Not only did an 8-month slump end and not only is it a lot of sales and a big percentage jump, but it is the largest single month of new home sales in many many years,” Belfiore said.

That is the highest single month, year-over-year jump since 2007, according Belfiore Real Estate Consulting President Jim Belfiore.

“Sales have skyrocketed,” Belfiore said.

Belfiore said new developments, subdivisions and building in the West Valley helped spur the 16 percent gains.

He points to strong demand and sales from Meritage Homes’ Homestead at Marley Park in Surprise. Lennar, Richmond-American, Ashton Woods and Gehan Homes are also among the new home builders at Marley Park.

New developments in Goodyear and Buckeye are also drawing buyers and builders’ interest.

Belfiore has seen in recent weeks year-over-year in new home sales and demand. That comes after an 8.5-month slump in housing demand that dated back to September 2018.

Belfiore has recently seen new home sales demand from buyers increase in the Southeast Valley, Pinal County and south Phoenix. Now, the West Valley numbers are spurring demand even more, he said.

“I think we are back on solid ground,” Belfiore said.

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  • Published: 5 months ago on June 20, 2019
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  • Last Modified: June 20, 2019 @ 12:33 pm
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