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    Homebuilders opening more new communities across Valley

    Homebuilders opening more new communities across Valley

    Source: Phoenix Business Journal | Angela Gonzales

    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.

    “New speculative supply in East Valley communities surveyed in the first seven days of the month is almost nonexistent, with builders now focusing on growing backlogs,” Belfiore said. “Ready-to-deliver supply fell to a 78-month low in May, and it is set to go lower. Resale supply has reached unhealthy lows.”

    Here’s a quick look at some new communities coming online:

    Camelot Homes

    Camelot Homes, a third-generation builder on a growth path, is opening its third model home at the Villas at Seven Desert Mountain in north Scottsdale.

    Home sites: 49

    Floor plans: 2,600 to 4,500 square feet

    Prices: Start at $1.4 million before customization and lot selection

    Landsea Homes

    Landsea Homes, which is growing exponentially in metro Phoenix, is opening three communities across the Valley:

    Sundance

    Location: 21598 W. Sonora St., Buckeye

    Homes: 172

    Floor plans: 1,315 to 3,018 square feet

    Price: $218,990 to $286,990

    Farmstead at Harvest

    Location: 25414 S. 227th St., Queen Creek

    Homes: 90

    Floor plans: 1,939 to 2,768 square feet

    Price: Starting in the low $300,000s

    Germann Country Club Garden Estates

    Location: 2041 S. McClelland Drive, Chandler

    Homes: 16

    Floor plans: 2,500 to 3,100 square feet

    Price: $489,990 to $519,990

    Shea Homes

    Shea Homes broke ground on Prelude at Storyrock, a new 462-acre community in northeast Scottsdale.

    Location: 128th Street and Ranch Gate Road, northeast Scottsdale

    Homes: 51

    Square feet: 2,845 to 3,963

    Price: Starting in the low $800,000s

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