New Mexico land developer Price Land Development Group (Price) simultaneously delivered hundreds of new home lots by the end of 2021, helping alleviate urgent housing demand for diversified homebuyers.
Price recently delivered 491 total lots in Santa Fe, southwest Albuquerque and Rio Rancho. Those new home lots include 116 to Pulte at Colibri in Santa Fe, 151 lots to D.R. Horton at Aspire in Albuquerque and 224 lots to a variety of builders in the Los Diamantes community in Rio Rancho.
The number of lots delivered is quite significant at this point in time. As reported recently by the National Association of Home Builders, a recent survey showed 76% of builders reporting the overall supply of developed lots in their areas was low to very low. The article states this is an all-time record (by a wide margin) since they began collecting the information in the 1990s. The previous record was 65% in 2018.
“The timing of the delivery for this number and caliber of lots in three of the hottest New Mexico communities couldn’t be more perfect. These deals have been in the making since 2017 and 2018, and they will meet a demand during a time when housing has never been more constrained,” said Price Land Development Group founder Garret Price.
In addition to three different locations, the range and size of lots Price is delivering will appeal to a diverse group of potential homebuyers, whether they are moving within the market or from outside New Mexico.
“The range of demographics these projects can serve is ideal for the current, very diversified housing demand. The lots we’re delivering are in three distinct areas with geographic diversity — Santa Fe, Rio Rancho and southwest Albuquerque — and will be ideal for homeowners from a variety of life stages, from large growing families to individuals and even empty nesters,” shared Price. “What makes this perfect timing of delivery possible is our deliberate mix of our own assets and asset manager partnerships to create a balanced yet diversified portfolio that strategically responds to our local market needs.”
To learn more about how Price Land Development Group continues to preserve the beauty of New Mexico while contributing to healthy economic growth, visit pricedevgroup.com