Real Estate Daily News
On the eve of the release of NAR Pending Home Sales Index (PHS) April report, a leading indicator of housing activity, based on what we are seeing here in Tucson we predict it to be a positive one for the third month running. Two major homebuilders, D.R. Horton and Richmond American Homes have restocked inventory in the Tucson market this month. D.R. Horton acquired an aggregate of 82-lots and Richmond American 76-lots during the month of May.
In the Southern submarket, northwest of Columbus and White Water Drive, D.R. Horton bought 62-lots remaining in a 157-lot subdivision, Desert Vista Estates from Clayton Properties Group for $1,627,500 ($26,250 per lot). The seller is a manufactured home manufacturer, Clayton Homes, and lots are mostly 55’ x 90’. We were unable to learn whether or not D.R. Horton plans to re-plat the lots.
