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Family Development is in escrow for two Valley communities, one in north Scottsdale and the other in Litchfield Park. The company plans to build 35 homes and 68 condominiums in these two communities over the next year and says it will hire local additional employees and contractors on an as-needed basis. Family Development plans to build approximately [...] Homes are getting bigger. Does that mean the housing market is getting stronger? Newly released data from the U.S. Census Bureau shows homes are growing in size. In fact we may see a high water mark in 2012. According to this article, homes are typically built smaller in times of economic downturn and larger during [...] The latest data from the Bureau of Labor Statistics shows Arizona enjoyed the 3rd highest spike in construction job growth in May, trailing only Texas and California. According to Michael Orr, real estate expert at A.S.U.’s W.C. Carey School of Business, the Phoenix housing market is continuing to recover. He also says that traditional homes sales are on the increase. The confidence of builders is waning on a national scale as tight credit, foreclosures and appraisal issues continue to impede consistent momentum in that sector. Meritage Homes has posted a 3rd quarter loss exceeding $3 million. All is not dire though as they’ve also seen increases in net sales orders in every market except Nevada. |
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