Homebuilders Gobbling up Even More West Valley Land

Article originally posted on Phoenix Business Journal on July 21, 2021

Homebuilders are hungry for land in the West Valley as they work to build more homes when demand is at an all-time high.

Scottsdale-based Meritage Homes Corp. (NYSE: MTH) just paid $14.75 million for 218 acres near the southeast corner of Citrus and Camelback roads in Goodyear, according to Tempe-based Vizzda LLC real estate database.

The parcel is across the street from its Sedella master-planned community, which is expected to be sold out this fall, said Fred Hermann, Phoenix division president of Meritage.

To be called Abel Ranch, this new Meritage master-planned community includes 333 lots with single-story homes ranging from 1,500 to 3,400 square feet, with prices ranging from $300,000 to $500,000, he said.

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