(Disclosure: Rose Law Group represents Richmond American Homes.)
By AZRE
A pair of land sales at the master-planned community of Estrella totaling more than 30 acres will provide much-needed finished lots as homebuilders scramble to meet rising housing needs in Metro Phoenix.
Land Advisors Organization facilitated the sales, which yielded more than $18 million combined, to Richmond American Homes and Brightland Homes.
With interest rates dropping, homebuilders could see more competition for homes coming on the market. Phoenix Realtors reported that sellers were reluctant to put homes on the market, and through November 2023, West Valley communities saw new listings drop between 20 percent and 25 percent from 2022.
