April 24, 2024 11:01 pm
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New Valley home sales already begin rebound from December dip

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By Angela Gonzales | Phoenix Business Journal

While new home sales dipped in December nationwide, Phoenix is already beginning to see a rebound.

Nationwide, new single-family home sales slipped 0.4% in December to 694,000 units, marking the U.S. housing market’s third consecutive monthly drop since hitting near-cycle highs in September, according to a BMO Capital Markets Economic Research report.

It’s no surprise that new home sales dipped in December, which is always when potential buyers are more focused on the holidays, said Jim Belfiore, founder of Belfiore Real Estate Consulting in Phoenix.

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