Arizona home builders are starting to sober up.
In metro Phoenix, RL Brown said new-home permits were down 58 percent in September from a year earlier.
With quite a hangover.
Pulte Homes’ profits plummeted 52 percent during the third quarter. Centex Homes’ earnings dove 62 percent. And Scottsdale-based Meritage Homes’ financials came in last week with a 15 percent drop.