Shea Homes Arizona boasts 22% sales increase in final quarter of 2016

A view of the “Reserve” subdivision being built by Shea Homes Arizona in the town of Gilbert. (Submitted photo)

Shea Homes Arizona is reporting a quarter-over-quarter sales increase of 22 percent.

This quarter 4 gain year over year was preceded by a 12 percent increase in sales during quarter three of 2016 compared to the same time in 2015.

“The Phoenix housing market is showing clear signs of recovery,” said Shea Homes Marking and Sales Vice President Ken Peterson in a prepared statement. “Consumer confidence is on the rise, and we’re seeing that sentiment reflected in revved up sales numbers.”

This upward trend is expected to continue in 2017, with projecting that Phoenix will be America’s No. 1 housing market next year. predicts Phoenix home prices to climb 5.9 percent, and sales to jump by 7.2 percent next year.

Shea Homes is prepared to meet the increased demand, officials say, with plans to open several new communities next year. The first will be The Reserves, in Gilbert, which is slated to open this spring.

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