As we study the latest market data, it is apparent that there are several Arizona submarkets where the supply of new homes appears to be nearing a shortfall in keeping pace with the current demand. One fascinating example is South Goodyear. Three communities have remarkably sold out in the last four months. Two of the sell-outs were Taylor Morrison communities in Estrella -La Mirada at Estrella and La Entrada at Estrella. The third was Beazer Home’s Highand at Glenmont Estates. Belfiore Real Estate Consulting’s data reflects that of the 19 communities presently open in this submarket, eight are in closeout with seven or fewer homes left to sell and three cannot build more homes until the next phase of development is complete.
