The final 2008 report from analyst RL Brown came out with some interesting information.  As far as the numbers go, total single family building permits were 12,582 for the year.  In 2007, 31,172 new building permits were issued.  There were 20,547 new-home sales for 2008, which was down 46% from the 38,308 new homes sold in 2007.  The median price of a new Phoenix-area home fell to $214,397 in December, compared to $242,000 in December of 2007.  The top new home builder in 2008 was D.R. Horton, with 3,607 sales, followed by Pulte Homes in the number two spot.

Some of the predictions in the RL Brown report include a suggestion that the median resale price of homes may fall into the $125,000 range.  The report also estimates that the total new and existing home sales for 2009 to be about 70,000, which would be similar to 2008.  Brown's report estimates the market growing to 105,000 new and existing home sales by 2013.

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Contact Troy and Mia Erickson, Realtors®, Terra Solis Realty, LLC. Licensed Realtors® in Arizona at 602-295-6807 to purchase a New Build Home in Chandler, Gilbert, Queen Creek, Phoenix, and the rest of Maricopa County, Arizona.  We are always accepting referrals.

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