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New-home permits in metro Phoenix jump 55% in July

Residential home-construction/wpcki
Residential home-construction/wpcki

By Catherine Reagor | The Arizona Republic

Metro Phoenix’s summer heat didn’t deter homebuyers shopping for new houses last month when homebuilding permits jumped 55 percent.

The latest data shows 1,592 permits for new houses were issued last month, compared with 1,024 in July 2014, according to the Phoenix Housing Market Letter report released Monday.

June and July’s jump in homebuilding have propelled the market 39 percent ahead of last year’s tepid pace. This year’s surge in homebuilding is beginning to look more and more like a real recovery of the Valley’s new-home market.

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