By Kristena Hansen
Phoenix Business Journal
Shea Homes is slated to kick off construction on two Phoenix-area communities by year’s end, eventually delivering almost 250 new homes to the market at a time when demand for such new product is on the rise nationwide.
The Ridgeview and Hideaway neighborhoods — both located in the Johnson Ridge master community in the southeast Valley’s San Tan Valley — will be the sixth and seventh new communities that the Walnut, Calif.-based home builder has opened in metro Phoenix this year, according to a statement Thursday by Shea Homes.
The home-building industry has recently been resuscitated largely due to the nation’s shrinking inventory of existing homes, especially in Phoenix, which industry experts say has forced frustrated home buyers to the new-home market.
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Phoenix foreclosure rate down 34 percent from a year ago/Phoenix Business Journal
