PHOENIX — New homebuilder permit data shows exactly how scary it was for homebuilders at the beginning of the coronavirus pandemic.
Homebuilder permits issued by Valley municipalities between January and April were up 37% over the same period in 2020, according to new data released by the Home Builders Association of Central Arizona.
While the data shows strong growth so far this year, it also gives a glimpse into how homebuilders put the brakes on construction plans while trying to get a feel for how the pandemic would affect their growth plans last year.
Year-over-year permit comparisons are going to be sketchy for April and May because of the early effects of the pandemic, said Jim Daniel, president of RL Brown Housing Reports.
Even so, municipalities issued 11,754 between January and April, up 37% from 8,591 during the same period last year, according to HBACA's latest permit data.
Read the full story at Phoenix Business Journal.