Phoenix homebuilders move down market; heed call for more affordable housing

Steve Hilton, CEO of Meritage Homes. His company sells 41 percent of its homes to first-time buyers. / Photo Jim Poulin / Phoenix Business Journal

By Angela Gonzales | Phoenix Business Journal

Steve Hilton saw the writing on the wall regarding affordable housing in the Valley some 10 years ago well before the real estate market began its recovery.

Hilton’s company, Scottsdale- based Meritage Homes Corp., bought land around the metro Phoenix periphery at the time to build entry-level homes for first-time homebuyers. Land in the outlying areas of Phoenix is less expensive than urban land, so the homebuilder could save on costs and bring lower-priced products to market.

Today, 41 percent of Meritage homes sold nationwide are to first-time homebuyers. Hilton said he is aiming for 60 percent.

READ ON:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

Court Rich, Rose Law group co-founder, Director of Renewable Energy & Utility Infrastructure, celebrates 20 years of sustainability in the legal field

By InBusiness Phoenix Court Rich, Co-Founder of Rose Law Group pc, is celebrating twenty years since joining the firm. Under Court’s guidance, Rose Law Group has become a leading firm for renewable energy and regulatory law in the Southwest. When Court joined in 2004, the firm had just two attorneys. Today, it boasts a

Read More »
April 2019
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930