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Residential New Construction Statistics in Phoenix

By Jan Green - Scottsdale, AZ

Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000

February 17, 2014 11:48 AM

Residential New Construction Statistics in Phoenix -

New homes in Phoenix increased by 13.7% in 2013 over 2012 figures. The area of measure for Metropolitan Phoenix includes both Maricopa and Pinal Counties, a vast area indeed! Re-sale residential construction declined by 3% for 2013 vs. 2012.

Investor purchases have declined in the Phoenix Metro Area as the area recovers, and distressed sales have diminished greatly as well. Since Arizona is a non-judicial state, foreclosures were processed quickly and the market has since recovered with fewer Notices of Default issued.

Foreclosures in Phoenix

Report courtesy of the Cromford Report.

Recovery in new construction hinged on large developers purchasing land in strategic areas that had been distressed. These sites are evident in Mesa, Gilbert and Queen Creek.

Projections for 2014 include continued growth and recovery, but gradually. Thankfully, homeowners can count on this news from trusted source RL Brown. Contact them for reports and information.

And if you're looking to purchase or sell a home in the Phoenix metro area, call me!

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Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

Jan, I am glad that the new construction sideof the market is looking up and was a positive segment of the 2013 sales activity.

Feb 17, 2014 03:31 PM

Barbara Todaro

RE/MAX Executive Realty - Happily Retired - Franklin, MA

Previously Affiliated with The Todaro Team

Good morning, Jan....new homes lead the market...in our area, the strength of our new home market is a reflection on the resale market...our new homes are not starter homes...the land is too expensive.... those who buy new will have a home to sell...

Feb 17, 2014 06:52 PM

Roy Kelley

Retired - Gaithersburg, MD

This is good information for home buyers. I hope you are enjoying a most productive month.

Feb 17, 2014 07:18 PM

Bruce Swedal

Denver, CO

Denver Real Estate

Thanks for the excellent information on this fantastic community. Any buyer or seller in the area would be lucky to have you.

Feb 17, 2014 10:55 PM

Michael O'Donnell

Berkshire Hathaway Home Services Arizona Properties - Scottsdale, AZ

GRI, ePRO, Accessible Homes

Jan, taking a look at the graph, it suggests a mountain that we all climbed here over the last several years. Wheww! (Hope we learned the hard lessons it taught)

Thank goodness that we find ourselves at lower elevations again. Easier when you're going with gravity rather than against it.

Thanks for sharing the good news!

Feb 18, 2014 12:26 AM

Jan Green - Scottsdale, AZ

Value Added Service, 602-620-2699 - Scottsdale, AZ

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Debbie - Me too. Hope your market is doing well!

Barbara - Interesting take on your market. Our new homes are mostly starter homes, except for the luxury ones in Chandler and Scottsdale.

Roy, Bruce - Thank you! You too!

Michael - It was a tough lesson for all of us for sure. Likewise, I'm glad we're pulling out of it. You're welcome and thanks for stopping by!

Feb 18, 2014 12:48 PM

Residential New Construction Statistics in Phoenix

Comments(6)

Jan Green - Scottsdale, AZ

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