Promising indicators in Phoenix and Scottsdale new housing market

Promising indicators in Phoenix and Scottsdale new housing market

  • 08/25/15

The new housing market is on the upswing in Scottsdale, and if you’re looking to buy a new home, there’s an additional tidbit of good news: RL Brown, a Scottsdale-based real estate research group, reports new home prices have dropped.

Developers filed 1,633 single-family permits in Maricopa and Pinal counties during June 2015, according to the US Census Bureau. That’s the highest number of permits recorded since August 2007 and brings the 12-month rolling average to 1,135 per month, the highest since July 2008. Compared to June 2014, housing starts by builders were up 46.5 percent.

In Scottsdale, builders have filed 441 single-family permits in the first half of 2015, making it the 10th most active location in the Phoenix metropolitan area, which includes San Tan Valley in unincorporated Pinal County. Phoenix had the highest number of single-family permits during the same time period with 1,027.

RL Brown indicates that while there have been more permits taken out by builders, new home prices have actually dipped 3 percent versus home prices during the same time in 2013.

What does this mean for you if you want a new home?

Obviously, you’ll soon have more new homes to choose from when you start shopping, and because prices have dropped over the last two years, you might pay less when you find one you like.

Just remember not to go looking for a new Scottsdale home without an experienced real estate agent. If you do, you won’t be able to bring an agent in later, meaning you’ll be unrepresented as you try to negotiate the sale.

Your real estate agent will serve as your personal advocate and may even be able to get you a better deal on a “non-negotiable” price.

If you’re ready to take a look at the opportunities in Scottsdale new builds, give me a call today. At The Matheson Team, we’re experience in local residential real estate, including new builds.

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