Strobeck: New home permits rise, foreclosure notices and repossessions dip


In August, new single-family home permits in the Tucson region hit 141, the second highest monthly volume of the year. To date, 1,035 permits have been issued by various jurisdictions, according to new data from John Strobeck, Bright Future Business Consultants. The year’s peak was 157 permits issued in March.

In the same month, Pima County issued the most permits at 48, followed by Marana at 29. Year-over-year, the steepest drop was in permits issued by the City of Tucson, where they were down 36 percent.

PulteGroup pulled the most permits last month with 21, followed by Lennar at 17, Strobeck said.
Across the region, the pace of new home construction is 27 percent behind last year. For 2011, Strobeck estimates that 1,450 to 1,500 permits will be issued.

For new-built homes, 115 closings were recorded in August, up from 87 in July. That was the year’s second highest mark after 119 sales in March. In August 2010, there were 131 newly built homes sold. For the year, there have been 805 new construction closings, Strobeck said. New construction closings are on track to hit 1,200 to 1,300 this year.

In August, lenders issued 1,214 foreclosure notices in Pima County. That affected one out of every 353 housing units in the region. The national ratio was one in 570 homes.

The new data is from RealtyTrac, an online marketplace of foreclosed properties, in its August Market Report. In Pima County, the total was 24 percent higher at 1,602 notices in August 2010.

Nationally, lenders repossessed 64,813 homes in August, 4 percent fewer than in July and a 32 percent less than in August 2010. In Pima County, 277 houses were repossessed, far less than the 634 repossessions in July. The August 2010 level was 562 units.

Arizona posted the nation’s third highest state foreclosure rate for the second consecutive month. Statewide, one in every 248 housing units received a foreclosure filing in August.

Despite the savings one can seemingly get from purchasing a foreclosed home, it is still best to opt for newly built homes. For those interested in seeking a great house for sale South Arizona, contact Dorn Homes, the best builder of homes in South AZ. A Dorn-built house for sale in Tucson is definitely stylish, convenient, and comfortable enough for anyone. All of our homes are guaranteed energy efficient, too.

Source: insidetucsonbusiness.com

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