By Angela Gonzales | Phoenix Business Journal
Even amid the spread of COVID-19, homebuilders are moving ahead with more new communities throughout the Valley.
During the past 30 days, sales contracts shot up 28% at a time when demand typically falls during the hot summer months, said Jim Belfiore, founder of Belfiore Real Estate Consulting.
“During the last five years, demand during the same period has fallen by an average of 2%,” he said.
For both new and existing homes, supply is low and expected to drop further during the next 30 days, Belfiore said. That means home prices will continue to escalate.
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New Scottsdale communities include:
Villas at Seven Desert Mountain by Camelot Homes
Prelude at Storyrock by Shea Homes