Nationwide, sales of new homes dropped 8.5 percent in March and were down 36.6 percent from the same month last year, according to a report from the U.S. Department of Commerce. The median new home price was $227,600.

Here in the Valley, the new home market’s free-fall seems to be coming to an end. Sales have held steady so far this year, hovering between 1,800 and 1,900 a month, a report by housing analyst RL Brown shows.

Some builders are even raising prices in an attempt to create a sense of urgency for buyers.

But the industry isn’t out of the woods just yet. They’re still competing with thousands of bank-owned properties and desperate sellers who are starting to slash prices. Experts say that’s especially true in outlying areas, such as Maricopa, and more foreclosures are on the way.

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