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Mattamy Homes Coming To The Tucson Market

Mattamy Homes Model Homes Sales office in Eastmark, Mesa, AZ.

Mattamy Homes Model Homes Sales office in Eastmark, Mesa, AZ.

New Homes Coming! Mattamy Homes recently purchased some land in Oro Valley (Rancho Vistoso/ Moore Rd and La Canada) to start a neighborhood of over a 100 initial Homes for Sale with an additional 100 Homes in phase two.  Speculations is they’re also in development talks for another neighborhood in Dove Mountain area. Who is Mattamy? They’re a Canadian Home Builder with operations in the US and In Arizona (Phoenix). Look for Mattamy Homes In Tucson AZ to feature Mid-Level Luxury Homes for Sale in Tucson Arizona, all in competition with builders like Maracay, Meritage, and A.F. Sterling.

Currently the Mid-Level Homes for Sale in Tucson  are doing quite well, but builders are having to discount spec homes to move them.  We may see builders over build on the spec home side of the market with expectations the market would be slightly stronger then it currently is. Having said that, we are finding that only a few buyers purchase a home to have it built from the dirt up. Now, most buyers want to lock in interest rates and prices today and not wait for what tomorrow may bring. The additional supply of finished new homes allows buyers to have additional options that they didn’t have from 2008-2012 as most new home builders would not build a house on “spec” or speculation that a buyer would be found. In addition Tucson new home prices have risen enough that even with some small discounting the home building industry is still able to generate decent profits in the $200k and up price points.

Mattamy Homes probably will not have anything ready to be delivered until early 2015 and with what I am seeing in the market the overhang of brand new spec homes is minimal so it should not affect Mattamy. New Homes In Oro Valley and Dove Mountain remain some of the strongest new home markets in Tucson with The Catalina Foothills also in the segment of “strong new home builder markets”. Other areas are seeing weakness however it is minor and probably more reflective of a normal marketplace vs an oversupply like we saw from 2008-2012 in the new home industry of Tucson.