Feb 3 2016 Market Update

Feb 3 2016 Market Update

After the extremely strong new home closing numbers in December, January was unable to keep up the pace. Closed new home sales collapsed by 53% to just 602 in Maricopa County. Before we panic, we must remember that this is still up 19% from January 2015 and is in fact the best January closing number since 2013. January is always a poor month for closed transactions on new homes.

Several more builders have started offering homes that are smaller and more affordable, so the median sales price declined from $320,678 in January 2015 to $302,498, a drop of 6%. This is a sign of smaller homes not lower pricing.


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Phone: 480-332-6468
Dated: February 3rd 2016
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