By Mike Sunnucks | Rose Law Group Reporter
The Buckeye submarket south of Interstate 10 is poised for some significant new home construction.
Steven Hensley, market manager for real estate research firm Zonda, said there are as many as eight new residential developments under construction or slated for the West Valley area.
Hensley said those new subdivisions will bring between 1,500 and 2,000 homes to south Buckeye.
“These are big developments,” he said.
Henlsey said the existing Blue Horizons development in south Buckeye is selling out which is prompting interest in the area from other builders.
“That market is going to change in the coming months,” said Hensley.
Meritage Homes, Pulte Homes, Richmond American Homes and D.R. Horton are among the builders with new homes being built or planned in the south Buckeye, Hensley said. “They are all going to be opening up projects,” he said.
The new homes are going to be priced between the high $200,000s and mid $300,000s, Hensley said.
That will provide some needed new supplies of entry level homes for prospective buyers.
“All these lots are under development in various stages,” Hensley said.
The Phoenix market continues to see a dearth of new homes as well as rising prices that could price out first-time and entry-level buyers.
