Forecast for home building in Phoenix this year – 8,500 single-family permits

Metropolitan Phoenix’s home building market can only improve after last year’s dismal results.
The Phoenix Housing Market Letter reports 8,027 single-family, building permits were issued in the region during 2010, the lowest level in at least 20 years. In 1990, during the middle of the last real-estate led recession, there were 10,619 permits for new homes issued in the Phoenix-area.
Publishers of the Housing Market Letter RL Brown and Greg Burgerdon’t expect 2010 to be much better. Their 2010 forecast calls for 8,500 home building permits this year. By 2012, the market could rebound enough for 22,000 new homes to be built …

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