Homebuilders are hungry for land in the West Valley as they work to build more homes when demand is at an all-time high.

Scottsdale-based Meritage Homes Corp. (NYSE: MTH) just paid $14.75 million for 218 acres near the southeast corner of Citrus and Camelback roads in Goodyear, according to Tempe-based Vizzda LLC real estate database.

The parcel is across the street from its Sedella master-planned community, which is expected to be sold out this fall, said Fred Hermann, Phoenix division president of Meritage.

To be called Abel Ranch, this new Meritage master-planned community includes 333 lots with single-story homes ranging from 1,500 to 3,400 square feet, with prices ranging from $300,000 to $500,000, he said.

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By Angela Gonzales, Senior Reporter - Phoenix Business Journals