Housing Starts Down, Sales Off, but Prices Hit High All-time High in 2000, Report Notes

PHOENIX-The Valley’s red-hot housing market cooled somewhat in 2000, but the median price of a home rose to an all-time high of $160,170.

Single-family home construction was off just over 1% last year, according to R.L. Brown, a housing analyst. Cities in the Valley issued 34,833 building permits for single-family homes during the year, down from the record 35,308 set during 1999.

New homes sales were off more than new starts, but by significantly more. Brown tracked 32,089 house escrows in the Valley last year, compared to 34,165 for 1999, which is a decrease of approximately 6%.