(Disclosure: Rose Law Group represents Lennar and Meritage Homes.)
By Angela Gonzales | Phoenix Business Journal
Despite nagging labor and supply shortages, homebuilders are still quite bullish on their Valley construction plans for 2022.
Indeed, homebuilders have spent $5.045 billion for 813 land purchase deals in the region over the past 12 months, according to research conducted by RL Brown Housing Reports exclusively for Phoenix Business Journal.
“The last 12 months land activity has been very robust in the Phoenix market,” said Jim Daniel, president of RL Brown Housing Reports.
Some of the hottest areas of the Valley for recent land deals are in the northwest and southwest areas, along with the Mesa-Gilbert market and Pinal County, Daniel said.
“Pinal County had 130 land transactions over $1 million with a total over $759 million,” Daniel said. “These transactions account for 9,438 new home lots and over 10,500 developable acres.”