Adam & Chana

Construction crews return to Phoenix, Ariz. Matthew Gindlesperger

 

Matthew Grindlesperger sends this from Phoenix, Ariz. He writes:

Are those green shoots for real? The attached pictures are of a housing development that is back building houses here in the Phoenix area. The original developer lost the property in foreclosure. The new developer bought the property, I don't know if they changed the floor plans. I was told all the houses being build are under contract not spec homes.
By the way, they just raised the prices. The sign used to say from "from the 180"s".

According to the latest figures from the Commerce Department, it looks like Matthew's green shoots are for real. Housing starts in the U.S. rose last month by 3.6 percent. It's the highest level since November and a marked improvement from what analysts had been expecting. Building permits also increased in June to 8.7 percent, a sign that builders' confidence is returning.

categories: Green Shoots

9:30 - July 17, 2009

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