By Catherine Reagor | Arizona Republic
Scottsdale-based Taylor Morrison is about to become the fifth biggest homebuilder in the U.S.
Shareholders approved the $2.4 billion deal for the builder to buy California-based competitor William Lyon Homes on Thursday. It’s Taylor Morrison’s second seven-figure acquisition in two years.
The builder is growing as demand for new houses, including rentals, hits a 10-year high. Millennial first-time and even second-time buyers looking for affordable homes are fueling a growing share of its sales.
Led by CEO Sheryl Palmer, Taylor Morrison has been on an acquisition role. It bought competitor Scottsdale-based AV Homes for $1 billion in 2018. The builder is also a big player buying metro Phoenix land.
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