Housing permits in the Phoenix metropolitan area – which includes Mesa and Scottsdale – are up by nearly 36% from last year. Despite the recent shocking increase in building costs, and corresponding sale price increases, Valley of the Sun housing building permits rose to 3,153 in April from 1,871 in March, a 68.5% increase. Long waiting lists are common for the area’s most popular new home developments. Because of the demand, builders are placing unfavorable terms, such as escalation clauses, in their buyer contracts. If you are interested in a new build, and need to know what you are agreeing to when buying one, contact SimplySOLD at mark@simplysoldaz.com.
