) recently revealed its plans to build 538 homes for
pre-retirement and retiring boomers in northwest Albuquerque,
N.M.. Built on 284-acres of land purchased from Western
Albuquerque Land Holdings LLC, these homes are scheduled for an
early 2015 opening. These homes are part of the first Del Webb
community in Albuquerque.
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The community is about 10 minutes from downtown and offers easy
access to hospitals, the University of New Mexico, the
Albuquerque Public Schools complex, and other shops and services.
The residents can also avail facilities such as walking, hiking
and biking trails, and community parks. These Del Webb homes are
a part of the Mirehaven master plan, which accommodates another
348 units for a different Pulte Homes community.
PulteGroup already has an active adult community in New Mexico
named Alegria under its Del Webb brand. This community comprising
376 homes was built three years back and now has less than 30
homes available for sale. There is an increasing demand among
baby boomers to purchase homes in communities that support their
lifestyle and make life comfortable.
Recent data from the U.S. Department of Housing and Urban
Development and the U.S. Census Bureau showed that sales of newly
built, single-family homes rose 9.6% in Jan 2014, which is the
strongest since July 2008. Sales growth was driven by the release
of pent up demand for new homes. By region, sales increased
10.4%, 11.0% and 73.7% in the South, the West and the Northeast,
respectively in Jan 2014. Owing to its location in the southwest
and western regions of the country, New Mexico is a favorable
region for new communities.
PulteGroup carries a Zacks Rank #3 (Hold).
Investors interested in the homebuilding sector can also consider
William Lyon Homes
Taylor Morrison Home Corporation
). While William Lyon and Taylor Morrison sport a Zacks Rank #1
(Strong Buy), Lennar carries a Zacks Rank #2 (Buy).