Experts expect permits to rise

Metropolitan Phoenix's homebuilding market can only improve after last year's dismal results. The Phoenix Housing Market Letter reports that 8,027 permits for single-family homes were issued in the region during 2009, the lowest level in at least 20 years. In 1990, during the middle of the last real-estate-led recession, 10,619 permits for new homes were issued in the area. RL Brown and Greg Burger, publishers of the Housing Market Letter, don't expect 2010 to be much better, but still better. Their 2010 forecast calls for homebuilding permits to tick up to 10,000. By 2012, the market could rebound enough for 22,000 new homes to be built and bought.

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