130 homes with prices starting under $500,000 coming to Menifee

One-story home at Jasper at Audie Murphy Ranch, starting from the $480,000s. Meritage Homes will offer 130 residences sized from 1,910 to 2,948 square feet. (Courtesy: Meritage Homes)Riverside County’s supply-starved housing market will get 130 new options in Menifee.

Meritage Homes has begun sales of the Jasper project at Audie Murphy Ranch with prices starting under $500,000. Jasper’s 130 detached homes will be either one- or two-stories in 1,910-2,948 square feet with up to five bedrooms and three bathrooms and two-car garages.

Meritage in February began selling the similarly-priced Meadow Run project with 67 homes elsewhere in Menifee.

Audie Murphy Ranch is a master-planned community on 1,100 acres developed by Brookfield Residential. John Burns Real Estate ranked Audie Murphy Ranch the nation’s No. 42 besting-selling project in 2020. Its 479 sales were up 124% from 214 in 2019.

Builders are moving to keep up with house hunters seeking new living spaces.

Riverside County builders sold 6,039 residences last year — a 10% jump above 2019, according to DQNews. Inland Empire builders signed 24% more sales contracts in February, the 15th-best performance among major U.S. metropolitan areas, according to Zonda.

Listings of existing homes for sale in the Inland Empire were off 65% in the year ending in March, according to Realtor.com — the seventh-biggest drop of the 50 largest housing markets.

This post first appeared on ocregister.com

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