New home sales reaching record highs

A March 4 article in Phoenix Business Journal shows New home sales hitting 2008 numbers. Year-end numbers from Arizona State University’s Michael Orr show plenty about the housing market and where it might be headed next year. New home sales posted their best numbers since 2008, according to Orr who is director of ASU’s Center for Real Estate Theory and Practice.

Homebuilders sold $514 million worth  of new homes in December 2015, up from $331 million in December 2014. New homes accounted for 19.1 percent of total sales in December, according to Orr. That’s the best share since 2008.

Orr also crunched the numbers of the top builders and top markets.