A pair of national homebuilders are gobbling up lots in the West Valley in an effort to bring more entry-level homes to the low stock of housing supply.

Meritage Homes Corp. (NYSE: MTH) bought 136 acres for $14 million in Goodyear, while Landsea Homes Corp. (Nasdaq: LSEA) paid $4.94 million for 247 lots in Buckeye, according to Vizzda LLC real estate database.

Scottsdale-based Meritage will develop a new master-planned community to be known as Silva Trails at the southeast corner of Citrus Road and Van Buren Street in Goodyear, said Fred Hermann, Phoenix division president for Meritage.

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By Angela Gonzales, Senior Reporter - Phoenix Business Journal