New Construction of Single Family Homes in Sedona Increasing

Posted By Wally Reule @ May 2nd 2015 4:41pm In: Sedona Real Estate Market News

It's nice to see an uptick in construction of single family homes in the past couple of years. It's nothing like the heady days in 2002 - 2007 when we averaged 81 new building permits per year. But from a low of 23 new building permits in 2011, that number increased to 46 last year and is on pace to exceed that in 2015. It's not a surprise, as so few homes were built after 2007 that clients are having a hard time finding existing homes on the market with modern open floor plans. What is also interesting is that in 2013, after brisk sales of existing homes brought the inventory to the lowest level in 10 years, permits to remodel homes hit an all time high of 124.

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