Posted: Jul 22, 2013 3:55 PM by Associated Press
Updated: Jul 22, 2013 4:22 PM
MESA, Ariz. (AP) - The number of new home permits in Mesa has more than doubled.
The East Valley Tribune reports (http://bit.ly/15Xiu5a) that the city issued 982 new home permits during the fiscal year that ended on June 30.
That's more than double the 414 new home permits issued in the fiscal year ending on June 30, 2011.
In June alone, 146 permits were issued.
That's more than any single month in the last five fiscal years.
Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business at Arizona State University, says it's a good sign for the housing market that developers are picking up projects, but noted that lending restrictions are keeping some prospective buyers from getting a mortgage.
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