Phoenix Arizona and the East Valley has seen it’s slowest month in new home sales since 1991. The numbers for August was 970 new permits to build a new home which is the lowest since 933 in 1991. The big reason is because of the number of foreclosures being sold in our market as 44% of all home sales in August were foreclosures. With that many foreclosures on the market and with the new first time buyer programs available right now, it’s a great time to buy a home in Tempe, Mesa, Chandler or any of the East Valley.
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This is great info to know.