Builders, buyers head for affordable suburbs

By Catherine Reagor | The Arizona Republic

Homebuilders and buyers face a shortage of lots in metro Phoenix’s most popular developments. The lack of available homesites is one reason the region’s new-home market is recovering more slowly than expected.

Mesa and Gilbert in the southeast Valley are now drawing the most buyers. But the southwest Valley is growing in popularity, particularly because new houses are less expensive there.

Estrella in south Goodyear is expanding by opening up an additional 620 acres. Newland, the community’s owner, is selling a total of 700 lots to several big builders, including T.W. Lewis by David Weekley Homes, William Ryan Homes and Shea Homes.

Continued:

If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com

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September 14, 2013

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