Land Prices Jump as Home Builders Move In
Land Prices Jump as Home Builders Move In - Recently, there was a bidding war over some land in Gilbert. In Arizona and across the U.S., home builders are battling to acquire land lots in preparation for ramping up home construction. While volume is tough to track, analysts report that land deals have been rising rapidly in recent months, causing land prices in some of the nation's weakest housing markets to rise for the first time since 2006. "There's been an absolute land rush," said Gregor Watson, a partner with McKinley Partners, a California-based real-estate fund that works with builders. Now the companies are spending millions of dollars to boost their land supply, optimistic that sales will pick up once the employment picture improves.
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Posted at 03:41PM Apr 23, 2010 by Louisa Ward & Robyn Viktor in General | Comments[0]
