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July Homebuilding Permits Take Dip as Valley Market Cools

By August 20, 2021November 14th, 2022No Comments

By Angela Gonzales | Phoenix Business Journal

Single-family homebuilding permits in July dipped a bit compared with July 2020, an indication the Valley’s housing market cooled a bit over the summer. Nonetheless, overall permits are up 32% year to date through July, with some Phoenix metro cities seeing triple-digit percentage increases.

Between January and July, Valley municipalities issued 20,131 single-family homebuilding permits to homebuilders, up 32% from 15,248 during the same period in 2020, according to the Home Builders Association of Central Arizona.

Yet July permits were down 7% from July 2020, new home closings in July also were down by 18% from July 2020, according to a new housing report issued by RL Brown Housing Reports.

Nationwide, Census data issued on Aug. 18 found housing starts were down 7% from June to July, but up 2.5% from July 2020, to 1.534 million.

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