It’s been a while since I talked about new construction. My first article was in June and I expressed concerns then about what could happen with new construction. You can read that here. Since than, it’s only gotten worse.
New construction sales fell to their lowest levels in more than two years. While this isn’t surprising since the housing market in general has nearly come to a stand still. The number of houses being constructed on has sank 9% from last October and building permits fell 10% according to the Census Bureau’s latest report. The number of houses actively being constructed is down 21% from it’s peak in April.
One key advantage new builders have over existing home sales is the ability to be flexible with their offerings. If you’re considering purchasing new construction have a local realtor help you shop around for the best possible incentives.
Thanks for reading,
Chris
Read my other blogs here.
