New home prices rise 5.9% while resale price hikes slow

Since the economic downturn a decade ago, home sellers and buyers alike in the Phoenix region have been apprehensive about the housing industry with worries of another bubble getting ready to burst.

According to a study by Metro Phoenix Housing Market Data and Analysis and RL Brown Housing Reports, the Valley’s residential sector is not only surviving, but also thriving — with no sign of a bubble.

“This is a solid-looking housing market… it’s the best it’s been in years,” said RL Brown, publisher of RL Brown Housing Reports.

The report states the region saw the most home permits and closing it has seen in the past 10 years for October. CLICK HERE FOR THE ENTIRE ARTICLE