Home building in Chandler and the east valley has dropped of a bit, but still remains strong compared to the rest of the country.
Some may consider it rash to say all is well in regards to homebuilding following last week's reports. Housing Starts slide 2.0% in January, to a 1.065 million annual rate, with a 6.7% reduction in single-family starts. Other news tells us, building permits were off 0.7%, to a 1.053 million annual rate. But in the last twelve months, single-family starts are up 16.3%, and permits up 5.8%. The 12-month moving average for overall housing starts (single- and multi-family) is at its highest level since 2008. And total number of homes under construction was up 1.1% in January and up 17.5% over a year ago. Good news over all.
To parallel the above, the National Association of Home Builders confidence index fell this month from 57 to 55. But it stayed above 50. This tells us that more builders felt conditions are good. Freddie Mac's U.S. Economic and Housing Market Outlook for February raised its mortgage originations forecast to $1.3 trillion. They pegged home sales at 5.6 million, starts at 1.18 million, and home prices up 3.9% for the year. The CEO at Move Inc., feels "...improved employment, rising GDP, easing mortgage restrictions and growth in housing starts are just a few of the trends creating meaningful tailwind for the market."
If you are on the fence about buying a home in Chandler, plus call or e-mail me so we can talk more about your position and see if now is the time to buy. Home building while not as strong as it as been in the past, is still moving along at a good clip.
Here are all the Homes for Sale in Chandler 85248.
Below are all the newer homes in Chandler
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