Valley Homebuilders See Surge in Homebuyers Backing Out

By Angela Gonzales | Phoenix Business Journal Homebuilders in metro Phoenix face an alarming surge in contract cancellations at a time when economists are pointing to another recession. Through the middle of July, the cancellation rate was in the 30% range, up from 8-10% in 2020 and 2021, and up from 15% in 2018 and …

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Single-Family Homebuilding Permits in Valley Jump in 2021

By Angela Gonzales | Phoenix Business Journal Homebuilders still can’t build homes fast enough to keep up with demand in metro Phoenix. Municipalities across metro Phoenix issued 9% more single-family permits to homebuilders in 2021 than they did in 2020, according to the Home Builders Association of Central Arizona. While one city showed 80% growth …

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Luxury Condo Developer Debuts $100M Project in North Scottsdale

By Angela Gonzales | Phoenix Business Journal Chicago-based Belgravia Group Ltd. is making its Phoenix debut with a $100 million condominium community in north Scottsdale. Plans call for building Portico – North Scottsdale, which will feature 112 luxury condominiums within DMB Associate’s One Scottsdale development, a mixed-use project that will include up to 2.8 million …

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Phoenix Home Price Growth Tops the Nation at 20%

By Angela Gonzales | Phoenix Business Journal Phoenix home price growth reached a whopping 20% in March, leading the nation for the 22nd consecutive month, according to the latest results of the S&P CoreLogic Case-Shiller Indices. With the national average now 13.2%, San Diego came in second, with a year-over-year price gain of 19.1%, followed …

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Scottsdale Homebuilder Plans to Spend $1.5B On Land

By Angela Gonzales | Phoenix Business Journal With a record-breaking fourth quarter, Meritage Homes Corp. is poised to spend more than $1.5 billion on land this year to beef up its community count across the country. In his first earnings call as CEO of Meritage, Phillippe Lord told analysts he plans to be operating 300 …

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Influencer Marketing Forecast: January vs December 2020

Back in January of this year, Influencer Marketing moderator Fletcher Wilcox (The Wilcox Report) led a panel of local real estate experts that included Jim Daniel (RL Brown Housing Reports), Tina Tamboer (The Cromford Report) and Tom Ruff (The Information Market). Their focus was on local housing futures before COVID-19 hit. Here is how their …

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Scottsdale Homebuilder Ramps Up Land Acquisition Pace

By Angela Gonzales | Phoenix Business Journal In an effort to keep up with homebuyer demand, Scottsdale-based Taylor Morrison Home Corp. is gobbling up even more land across the nation — and the Valley. Sheryl Palmer, president and CEO of the Scottsdale-based homebuilder, told analysts in a third quarter earnings call (on Oct. 28 that) …

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Local Perspective On New U.S. Home Sales ‘Surge’ Numbers

One could argue that all stats are relative and local market data rules. Which is why sharing national stats with clients can be problematic. Take for instance this August 25th MarketWatch headline: New home sales surged to highest level since 2006 in July, but builders could soon face headwinds. How does that play out in …

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Custom Home Lot Sales Going Strong in Metro Phoenix

By Angela Gonzales | Phoenix Business Journal More than 100 custom home lots priced above $1 million have been sold in metro Phoenix during the past 12 months, and COVID-19 doesn’t seem to be impacting sales so far, according to data compiled exclusively for Phoenix Business Journal. Research by RL Brown Housing Markets shows 101 …

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May Sales a Bright Spot for Valley Homebuilders

By Angela Gonzales | Phoenix Business Journal Homebuilders in Maricopa County saw an uptick in sales during May as residents began to venture out with an itch in their pocketbooks. Homebuilders saw a 9% increase during May over April and increased by less than 1% year-over-year from May 2019, said Jim Daniel, president of RL …

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