UA forecast calls for rebound in Valley housing market this year

The Valley's new-home market is on its way to recovery, according to a University of Arizona forecast. The UA Economic and Business Research Center report predicts that new-home permits in metro Phoenix this year will jump 54 percent from last year to 13,320. Then, permits will more than double to 28,060 next year. That is still a long way from the Valley's peak building years of 2004-05 when close to 60,000 new homes were built in each of two straight years. The university's forecast predicts that new-home permits will fluctuate from 35,000 to 40,000 annually from 2012-16. That would appear to be a more sustainable number than 60,000 permits annually, especially with the Valley's expected population growth.

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