Expand Your Options: Discover the Bright Future of New Construction Homes

Are you currently in the midst of a home search, feeling the frustration of a limited supply of available homes for sale? You're not alone. The real estate market's busiest season is marked by a scarcity of existing homes. However, there's a silver lining – the thriving market for new construction homes. In this blog, we'll delve into the significant progress being made in new residential completions and explore how it can enhance your home-buying journey.

The Rise of New Home Construction:

• The graph showcasing new-home completions reveals a notable trend in the housing market.
• Leading up to the housing crash, builders exceeded the long-term average, resulting in an oversupply and declining home values.
• Subsequently, the level of new home construction decreased, leading to an inventory deficit that persists today.
• The current good news is that builders are now matching the long-term average, indicating an increase in newly built homes available for sale.

Momentum in Residential Starts and Permits:

• Residential starts represent homes where construction has officially commenced.
• Permits indicate homes where builders are planning to break ground soon.
• The upward trajectory of both these metrics signifies an encouraging sign of more newly built homes entering the market.

What Does it Mean for YOU as a Home Buyer:

• Expanding options: With more homes in various stages of construction, your pool of choices has grown.
• Quick move-in: Explore recently completed homes in your area for a timely relocation option.
• Customization opportunities: Consider homes still under construction, allowing you to personalize features and finishes according to your preferences.
• Tailored recommendations: Rely on the expertise of a trusted real estate professional who can guide you based on your unique needs and desired neighborhoods.

If you're struggling to find your ideal home amidst low inventory, it's time to turn your attention to new-home construction. The increasing number of newly built homes, as evidenced by residential completions, starts, and permits, offers a promising solution. Whether you're seeking immediate occupancy or the chance to customize a home to your liking, a knowledgeable real estate agent will be your invaluable resource. Reach out to an expert in your area to explore the exciting possibilities that new construction homes present and embark on a home-buying journey that matches your vision.