Phoenix new home sales up slightly
The federal tax credit helped new home sales across metropolitan
Phoenix increase enough in April to beat last year's pace.
There were 823 new home sales in metro Phoenix last month, reports
the Phoenix Housing Market Letter. That compares to 789 in April 2009.
It's the first month this year that new homes sales have topped last
year's closings.
New home building in the region slowed last month as builders
prepared for demand from the tax credit to wind down. There were 604
single-family permits issued in April, compared to 908 in March of this
year.
Home purchases have to close by June 30th for buyers to receive the
tax credit so the federal incentive could boost new home sales for the
next two months.
Arizona Republic
May 27, 2010