And from R.L. Brown who follows Phoenix Housing:
New-home closings for the year were down 9.84% from last year. New-home
permits for 2014 were 15.2% less than they were in 2013. Resale home sales fell by
7.8% from the pace of 2013.
The median price of new homes continued to increase over the course of 2014 as did the
resale median price in Metro Phoenix. The median new-home price rose from $290,795
to $305,000 after peaking in October at $308,317.