If you’re on the hunt for a new construction home in Phoenix and want to work with a big-name builder with a long-standing market presence, then D.R Horton may be a good match for you. Here, you’ll find the full breakdown of this home developer with all the relevant information.
- D.R. Horton’s Phoenix West Division President tells us more about the developer’s market presence
- Explore what communities D.R. Horton is building across the Phoenix region
- Learn more about D.R. Horton’s financial and sales milestones in Q3-2022
Since the 1980s, D.R. Horton has been constructing homes in the Greater Phoenix region. This Texas-based builder can be found across the country from New Jersey to Hawaii, with more than 930,000 homes delivered since D.R. Horton’s inception in 1978. The builder operates under four brands, including Express Homes, Emerald Homes and Freedom Homes, with a unified goal of building properties for every stage of life.
D.R. Horton brings the personal touch to new construction homes
As America’s largest homebuilder by volume, you can find D.R Horton homes in several cities across the country, including the Valley of the Sun.
D.R. Horton is a prominent builder in the Phoenix metro area, with new homes built and under construction from Casa Grande to Surprise. The builder primarily constructs one- and two-story detached homes in Phoenix, in addition to master-planned communities that tout the most desirable homeowner amenities.
Kim Oium, D.R Horton’s Phoenix West Division President, tells Livabl about the developer’s existence in the Phoenix metro and how the local marketplace is evolving.
Phoenix has seen tremendous growth over the last couple of years. How would you describe D.R Horton’s relationship and presence within the Phoenix region?
We have been operating in the Greater Phoenix area for 35 years. D.R. Horton initially entered the Phoenix market in 1987 and further bolstered our market share through a series of acquisitions including Continental Homes in 1998.
Rancho El Dorado, Sundance, Desert Ridge, Magic Ranch and Camino a Lago were some of our original communities in the Phoenix area.
What makes Phoenix a great place to live in, in your opinion? What attracts homebuyers there?
The Phoenix area is a fantastic place to live, with a thriving economy, sunny climate and stunning outdoor destinations. Phoenix’s job market is rapidly growing, with the expansion or relocation of numerous company headquarters to this area over the past five years, including Rivian, Nationwide, USAA and Mayo Clinic. We expect Amazon, Acronis, Valor Global and TEKsystems to join this growing list of companies in 2023, further bolstering Phoenix’s economy and increasing demand for new housing in the area.
Phoenix boasts approximately 300 sunny days per year, close proximity to California, mountains and snow and an abundance of fishing, hiking and other outdoor activities to enjoy, making it an extremely appealing place to live.
What areas of your portfolio do you think will see expansion over the coming years, whether it’s location or housing type?
The Phoenix area is growing, with significant expansion in the North Phoenix, Avondale/Goodyear, Maricopa, Casa Grande, Florence, Apache Junction, Surprise and Buckeye markets. We have the infrastructure needed to accommodate this growth and are well positioned to continue offering beautiful, newly built homes at affordable price points to our homebuyers throughout the Phoenix area.
How does D.R. Horton differentiate itself from other builders in the market? What makes it unique?
At D.R. Horton, we treat our homebuyers like family. We believe this personal touch helps differentiate us from other builders and drives a sense of loyalty from our homebuyers, who frequently return to us as their families grow to purchase their move-up homes.
We also remain highly competitive with pricing and aim to maintain a steady flow of inventory, with specs readily available for individuals and families in need of homes they can move into quickly.
Are there any D.R. Horton new and upcoming developments that you are the most excited about?
On the west side of town, we are thrilled to be expanding further into the Surprise and Buckeye markets, and we are excitedly anticipating our entrance into the Prescott Valley market.
On the east side of town, we are continuing to expand our operations in Maricopa and Casa Grande and look forward to growing further with the addition of the Apache Junction and Gold Canyon markets.
Which new construction amenities have you seen grow in popularity in the last couple of years, especially in master-planned communities? How has the pandemic influenced what new home buyers want in a home?
There has been a shift in demand from larger, singular amenity offerings, such as community pools, to smaller, but more numerous amenity offerings, such as parks and various sport courts. While some families remain hesitant to gather at community pools, we have noticed an overall uptick in amenity utilization as the pandemic has waned.
What are the most noticeable trends happening in the Phoenix market right now? How is the market different or the same now versus the same time period in 2021?
There is a growing trend toward multi-generational living, with homeowners welcoming their in-laws, adult children and other family members into their homes to live with them. As a result, we have experienced an increase in demand for larger, two-story homes fit to accommodate multi-generational lifestyles.
Where do you see the Phoenix market five years from now from a real estate, development and planning perspective? How is D.R. Horton preparing for these changes?
We believe the Phoenix housing market will remain strong and continue to grow over the long term with additional businesses relocating to the area. We are actively pursuing new projects so that we can continue to accommodate the area’s growing need for new housing at affordable price points.
Explore the hundreds of homes D.R. Horton is building across the Greater Phoenix area
From Surprise to Casa Grande, D.R. Horton is building new homes across the Phoenix region.
The Texas-based builder mainly constructs one- and two-story single-family homes, which can be found in its various master-planned and multi-phase Phoenix developments. Each D.R. Horton community features a variety of on-site amenities, from pools, to tot lots, to nature trails and everything in between.
Here’s a quick roundup of just some of the new home communities by D.R. Horton that are currently available in the Phoenix metro:
A full list of local developments can be found here.
Location: 21909 North 56th Street, Phoenix
Price: From $839,990 to over $997,990
Size: 1,611 to 3,487 square feet
Located in the master-planned community of Desert Ridge, this gated development is minutes from golf courses, restaurants and big-name retailers. Handy access to Loop 101 provides an easy commute to Scottsdale, Mesa and Tempe, plus connections to I-10 and I-17.
Residents will find plenty of amenities to try at Talinn at Desert Ridge, whether you want to stroll through the 10-acre park or let the kids run around on the playground. Buyers can pick from 11 different floorplans with one- and two-story options and three- to five-bedroom layouts.
These homes are equipped with smart home technology such as a Skybell and remote door locks, in addition to granite countertops, a stainless-steel gas range and desert front yard landscaping.
Location: 19022 West Sheffer Avenue, Buckeye
Price: From $432,990 to over $461,990
Size: 1,611 to 2,238 square feet
Vista de Montaña is under construction in central Buckeye, just minutes south of I-10. Local parks and schools are a short distance away from this new home community, while favorite retailers like Target, ALDI and Walmart, plus the Phoenix-Goodyear Airport, are within a 15-minute drive of the community.
Homebuyers can have their choice of five distinct one-story floorplans at Vista de Montaña, which range from 1,611 to 2,238 square feet in size with three- to four-bedroom options. Each home is complete with a two-car garage and a minimum of two bathrooms. Families of Vista de Montaña can make use of the community’s parkland and tot lot to enjoy the great outdoors and take in the surrounding mountain views.
Location: 17030 North 49th Street, Scottsdale
Price: From $649,990 to over $884,745
Size: 1,832 to 2,851 square feet
Arabella is a collection of single-family homes under construction in Scottsdale’s Salerno neighborhood. Located near E Bell Road and N Tatum Boulevard, this community is a four-minute drive from Tatum Point shopping center where you’ll find conveniences such as Walmart, The Home Depot, Petco and more. Travelers will also appreciate the community’s proximity to Scottsdale Airport, which is a 10-minute drive away.
Arabella consists of 17 different floorplans ranging from three- to five-bedroom layouts with one- and two-story and one- to two-car garage options. Prospective homebuyers can explore four of Arabella’s layouts at its four show home models for the Little Rock, Reno, Doubletree and Millennium floorplans.
Location: 10476 West Harmony Lane, Peoria
Price: From $581,990 to over $734,385
Size: 1,611 to 2,734 square feet
In Peoria’s Dove Valley Ranch neighborhood, Camino á Lago is a master-planned community with 472 new home lots. Future residents can make use of the development’s many on-site amenities, including its walking trails, sand volleyball court and barbeque areas. Homebuyers can pick from 13 one-story floorplans which each offer two-car attached garages and a minimum of two bathrooms from the high $500,000 price range.
Camino á Lago is located near Lake Pleasant Parkway, which lends easy access to Peoria Regional Preserve and Lake Pleasant Towne Center. Residents of this D.R. Horton community are never far from shops and other essentials, including ALDI, Marshalls and Walmart Supercenter, plus dental offices, pharmacies and more.
Location: 30386 West Sheila Lane, Buckeye
Price: From $406,395 to $431,990
Size: 1,788 to 2,360 square feet
A master-planned community in Buckeye, Tartesso is composed of five single-story home floor plans ranging from 1,788 to 2,360 square feet in size. Some plans included in this development are finished with ceramic tile, stainless steel appliances, front yard landscaping and hardwood cabinets.
Under construction near Tonopah Salome Highway and Sun Valley Parkway, Tartesso is a few minutes’ drive from I-10, providing a straightforward, 45-minute commute into downtown Phoenix. This new home community is walking distance to local playgrounds and park, perfect for evening strolls with the dog and family. Tartesso is also home to its own collection of outdoor amenities, including a tot lot, sport courts and splash pads.
D.R. Horton’s homebuilding revenue jumps to $8.3 billion in Q3-2022
Despite a market slowdown stemming from rising interest rates, D.R. Horton reported a yearly increase in its revenue during the third quarter of 2022.
On July 21st, the Texas-based homebuilder released its quarterly earnings for Q3-2022, which ended June 30th.
According to a press release, the company’s homebuilding revenue for Q3-2022 jumped 18% year-over-year to $8.3 billion, up from $7 billion during the same quarter in 2021. In Q3-2022, D.R. Horton’s net income rose 48% to $1.6 billion, up from $1.1 billion a year earlier.
During Q3-2022, the number of D.R. Horton homes that were closed fell 1% to 21,308 properties, down slightly from 21,588 homes closed in Q3-2021. In the same quarter, net sales orders dropped 7% to 16,693 homes, but grew 8% in value to $6.9 billion, an improvement from $6.4 billion in Q3-2021.
The company’s cancellation rate, which is the number of cancelled sales orders divided by gross sales orders, was 24% in Q3-2022, higher than the 17% cancellation rate reported in the previous year.
Over the first nine months of 2022, D.R. Horton’s homebuilding revenue increased 19% to $22.5 billion, up more than $3.5 billion from the $18.9 billion in revenue that was reported during the same fiscal period last year. As of June 30th, the company reported a net income of $4.2 billion, up 49% from the same nine-month period in 2021.
The company stated that it closed 59,532 homes during the first three quarters of 2022, a 1% decrease from the 60,028 homes that were closed in 2021. During the same nine-month period, D.R. Horton’s net sales orders fell 4% to 62,555 homes but increased 15% in value to $24.9 billion.
At the end of the third quarter, the homebuilder reported a total of 598,200 lots and 56,400 homes in inventory, 27,200 of which were unsold.
“During the first half of fiscal 2022 and most of our third quarter, housing market conditions remained strong,” said Donald R. Horton, chairman of the board, in D.R. Horton’s quarterly press release. “During the quarter, we were still selling homes later in the construction cycle to better ensure the certainty of the home close date for our homebuyers as we continued working to stabilize our construction cycle times.”
Horton added that a moderation in housing demand was detected in June as mortgage interest rates and inflation pressures rose. While these issues may persist into the near future, Horton said that the homebuilder is “well-positioned to meet changing market conditions,” with its affordable product offerings and strong supplier relationships.
Based on the results from earlier in the year, D.R. Horton predicts that 2022 will result in 83,000 to 85,000 closed homes, and consolidated revenues ranging between $33.8 billion and $34.6 billion.
Read more online about what D.R. Horton is doing in Phoenix
Horton Planning Mixed Residential Community Near Cave Creek & Jomax – May 2022, AZBEX
D.R. Horton is looking to build a mixed residential community of 1,145 single-family homes, 260 multifamily units and 140 Build-to-Rent casitas on 418 gross acres of unimproved desert land southwest of the SWC of Cave Creek and Jomax Roads in Phoenix.
10,000-home Master Plan Approved in Apache Junction, Arizona – October 2021, Builder Magazine
Last week, the Apache Junction, Arizona, City Council approved plans by developers Brookfield and D.R. Horton for a master-planned community on a 2,700-acre land parcel in the city, which was subject to an unusual auction process last year.
EV home for up to a million people is born – December 2021, East Valley Tribune
Nobody knows exactly how many shovelfuls of dirt there are in 275 square miles. But the first few of them have now been dug in the vast tract of state trust land known as Superstition Vistas. And by 2023, the first of what could someday be a million residents will be moving into their new homes. The chief partners in this first phase of a project expected to span generations are Apache Junction, Brookfield Residential Properties Inc., and D.R. Horton, a Texas-based homebuilding firm.
Walton sells 282 homesites in Tortosa to D.R. Horton – March 2020, AZ Big Media
The property sale to D.R. Horton represents 282 of the more than 1,100 partially developed lots in Tortosa South. The Tortosa community features approximately 1,000 existing homes, and development in Tortosa South is likely to re-commence in 2020, with homes potentially under construction in 2021.
D.R. Horton opens first neighborhood in Estrella – April 2020, AZ Big Media
D.R. Horton is opening its first neighborhood in Goodyear’s master-planned community Estrella by Newland. The neighborhood will be the most recent to open in Lucero, the latest village in Estrella.
Land in northeast Phoenix sells to homebuilder for record price – March 2019, azcentral.com
D.R. Horton bought the land, at Bell Road and Tatum Boulevard, for about $80 million, according to public real estate records. The deal breaks down to more than $670,000 an acre, the highest price ever paid for vacant land in the city of Phoenix.
D.R. Horton buys 125 acres in Peoria for $31.35M – July 2018, AZ Big Media
D.R. Horton successfully bid $31.35 million Tuesday in an Arizona State Land Department auction for 125.36 acres of State Trust Land in Peoria that is zoned for residential use, State Land Commissioner Lisa Atkins announced.