By Angela Gonzales | Phoenix Business Journal
Homebuilders are out scouting for land to build more homes in an undersupplied market, but very few deals are getting done.
“They all went on strike last year,” said Greg Vogel, CEO of Land Advisors Organization. “They ended up terminating or postponing almost all their purchases.”
But they’re making progress, buying more lots in March than they did during the first two months of 2023, said Jim Daniel, president of R.L. Brown Housing Reports.
“Homebuilders spent close to $134 million in the Phoenix market, acquiring over 2,000 new lots in March, and that is good news,” he said. That’s up from 1,243 lots purchased in March 2022 for $108.9 million.
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