Belfiore Real Estate Consulting
Homebuilders in the Belfiore Real Estate Consulting’s North Phoenix submarket, which extends north of Loop 101 along Interstate 17 north of Carefree Highway, have experienced strong sales, fueling the sell-out of most active residential communities. Because of this, builders are continuing to ramp up activity. By year-end Belfiore expects five new communities to be under development. Pulte Homes, Taylor Morrison Homes, Meritage Homes, Homes by Towne, and one other homebuilder who is under contract to purchase a small residential site, have either started or will soon start site development. The new communities are expected to open for sales in mid- to late 2014. Much of the new housing supply will be constructed on medium density lots- 45’ to 60’ wide. “We have seen more real estate due diligence requests in that area lately, which is, now that people have the ability to actually close deals, a good measure of where building will next occur” says Rose Law Group Senior Real Estate Attorney, Cameron Carter.
