National homebuilders snapping up lots throughout Valley - Phoenix Business Journal

Homebuilders resume fast-paced Valley land grab.

(Disclosure: Rose Law Group represents Brookfield Property Group, Fulton Homes and Shea Homes.)

The terra firma forecast:

“R.L. Brown Housing Reports tracked 1,053 land transactions with 30,617 acres and 14,194 lots purchased in 2023 in Maricopa and Pinal counties,” and it expects that “pace” to “continue” for “2024.”

Builders making it happen include…

Brookfield Property Group: In a landbank buy “for K. Hovnanian,” Brookfield “paid $28.68 million to an entity tracing to Haven Realty Capital on Feb. 1 for 173 platted and engineered lots” in San Tan Valley.
“Fulton Homes plans to develop four communities totaling 3,600 homes in the West Valley… ‘All our land selection is focused in the West Valley, especially along Loop 303,’” said Fulton President Norm Nicholls.
"Shea Homes purchased 125 lots for its age-restricted Ridgecrest at Northpointe community,” where it’s “planning four phases with 414 total home sites” with prices starting “in the high $400,000s.”
Other activity: CastleRock Communities, David Weekley, Landsea, and Tri Pointe “continue to scoop up land that could be ready in two to four years,” just as they, along with Camelot and KLMR, are also “breaking ground on new projects and opening other communities.”