Belfiore Real Estate Consulting
Infill builders are finding significant demand, even before they open. Builders are reporting that even when they merely post their first sign up on a site, they begin to receive calls of interest. In recent months, infill builders are reporting having interest lists of up to three hundred people prior to even officially commencing sales.
Some examples of recent sales success: According to Belfiore Real Estate Consulting, Ryland Homes opened its first community since reentering the market with its purchase of Trend Homes, and quickly sold it out. The builder offered 30’ wide homes- just three plans ranging in size from 1,547 to 2,277 square feet. The builder sold-out of the 42 homes at Southern and 36th Street in just four months.
Another example: Meritage Home’s Madison Place located in the Biltmore Area. The builder has been open for nearly five months, and at the end of July, had only 3 or its 61 units left to sell. And, in Ahwatukee, Lennar began selling its Discovery product at Desert Vista. Selling by appointment only, from an offsite location, the builder sold eight units in two months. Seemingly expecting a flood of sales when it opens its model home later this month, the builder now has 30+ homes under construction.
“The strong infill demand builders are experiencing today is a reflection of true pent-up demand; residents in many areas haven’t seen new construction in six to seven years, and now that new opportunities are presenting themselves, residents are jumping at the opportunity of owning a new home near their current neighborhood”, according to Jim Belfiore, President of Belfiore Real Estate Consulting.
