New subdivisions starting to sprout

Phoenix-area residents are about to encounter something they haven't seen since the housing boom: grand-opening signs for new communities. The first of those is at Adora Trails, a 1,900-lot, master-planned community by Taylor Morrison on Riggs Road, between Val Vista and Higley roads, in Gilbert, which opens for business today. Another subdivision scheduled to open soon is Church Farms, a William Lyon master-planned community of roughly 1,750 lots between Meridian and Signal Butte roads in Queen Creek. At least three others are scheduled to open before the end of the year, a Phoenix area housing analyst said. The price of vacant lots inside existing subdivisions in desirable areas such as the southeast Valley has doubled since 18 months ago, according to homebuilding-industry analyst Jim Belfiore, president of Belfiore Real Estate Consulting in Phoenix.

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