QUICK HIT: Metro Phoenix area lot supply is severely constrained presently
During its latest subdivision surveys, Belfiore Real Estate Consulting analysts have found some subdivisions are out of lot supply and are either not offering new build homes or they are offering homes that will not be delivered until first quarter 2014, after they have developed more lots. President of Belfiore Real Estate Consulting, Jim Belfiore says, “lot development is picking up, with good reason. Builders cannot deliver homes without home sites, and their supply of home sites is extremely low.” Builders operating subdivisions with low lot supply are encouraging buyers to purchase one of the few inventory homes they have. As one might expect when supply is low, inventory home prices are up over the last 60 days.
To further discuss real estate, please contact Jordan Rose at jrose@roselawgroup.com
