December 22, 2024 5:17 am
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Homebuilders unveil new Valley communities, despite soft spring sales

By Angela Gonzales | Phoenix Business Journal

Despite a soft spring, several homebuilders are moving ahead with plans to open their communities throughout the Valley this summer.

“The Phoenix area housing market has stalled in recent months as a result of eroding affordability from spiking mortgage interest rates,” said Steve Hensley, advisory manager for Zonda housing research firm. “Zonda’s New Home Pending Sales Index shows demand fell 10% from April to May and demand was 24% lower than a year ago.”

Read the full subscription story from the Phoenix Business Journal.

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