Spurred By Rising Prices, Phoenix Undergoes A New Housing Boom : News Photo

Spurred By Rising Prices, Phoenix Undergoes A New Housing Boom

Credit: 
Justin Sullivan / Staff
PHOENIX, AZ - MARCH 05: New homes under construction are seen on March 5, 2013 in Phoenix, Arizona. In 2008, Phoenix, Arizona was at the forefront of the U.S. housing crisis with home prices falling 55 percent between 2005 and 2011 leaving many developers to abandon development projects. Phoenix is now undergoing a housing boom as sale prices have surged 22.9 percent, the highest price increase in the nation, and homebuilders are scrambling to buy up land. (Photo by Justin Sullivan/Getty Images)
Caption:
PHOENIX, AZ - MARCH 05: New homes under construction are seen on March 5, 2013 in Phoenix, Arizona. In 2008, Phoenix, Arizona was at the forefront of the U.S. housing crisis with home prices falling 55 percent between 2005 and 2011 leaving many developers to abandon development projects. Phoenix is now undergoing a housing boom as sale prices have surged 22.9 percent, the highest price increase in the nation, and homebuilders are scrambling to buy up land. (Photo by Justin Sullivan/Getty Images)
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Date created:
March 05, 2013
Editorial #:
163160657
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Getty Images News
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New homes under construction are seen on March 5 2013 in Phoenix... News Photo 163160657Arizona,Bestof,Business,Civilian,Construction,Finance,Home,Horizontal,New,Occupation,Phoenix - Arizona,Resident,Topics,Topix,USAPhotographer Collection: Getty Images News 2013 Getty ImagesPHOENIX, AZ - MARCH 05: New homes under construction are seen on March 5, 2013 in Phoenix, Arizona. In 2008, Phoenix, Arizona was at the forefront of the U.S. housing crisis with home prices falling 55 percent between 2005 and 2011 leaving many developers to abandon development projects. Phoenix is now undergoing a housing boom as sale prices have surged 22.9 percent, the highest price increase in the nation, and homebuilders are scrambling to buy up land. (Photo by Justin Sullivan/Getty Images)