New Construction- Why the Time to Build is Now

new construction

The current home construction rate is 1.3 million which means, it’s way behind the estimated 2.3 million of single-family homes over the last 10 years. Though the exact new home sales have increased to 2.4% last year, the numbers are still not enough compared to the houses built a decade ago. It can be recalled …


What are homebuyers looking for in new construction homes?

new construction homes

When searching for a new home, buyers have a lot of ideas about what they are looking for. From the layout to the design elements and even materials and finishes. In order to get an idea of what homebuyers are looking for, the NAR asked future homebuyers for what they were looking for in builders. …


Housing stock age shows desperate need for new construction

need for new construction

Aging housing stock tells the tale of a construction industry that continues to fall behind in the number of new homes built each year. The median age of owner-occupied homes is currently 37 years. This is according to data from the 2016 American Community Survey from the National Association of Home Builders. This is the …


U.S. Home Sales Will Grow as Housing Supply Inventory Improves

housing supply

According to Freddie Mac’s July 2018 Housing Forecast, exceptionally low housing supply and weaker affordability slowed the housing market in the first half of 2018, but total sales activity should still slightly top year-ago levels. In most of the country, the healthy U.S. economy and robust labor market fueled considerable interest in buying a home during …


Babcock Ranch Brings Sustainable Homes and Lifestyles to SWFL

Sustainable Homes

If you are interested in sustainable homes, tucked into a corner of Southwest Florida about a half-hour from Fort Myers, Babcock Ranch is what developer Syd Kitson calls the most sustainable new community in America. It started when Kitson, a former NFL player, purchased the 91,000 acre ranch in 2006. He immediately struck a deal …


US construction spending rose 0.4 percent in May

construction

Spending on U.S. construction projects edged up 0.4 percent in May, while April’s figure was revised down significantly. Both signs that new building is still uneven despite a growing economy. The uptick in May brought total construction spending to a seasonally adjusted all-time high of $1.31 trillion, 4.5 percent higher than a year ago, the …


New Home Construction the Solution to Inventory Crisis

new home construction

Unemployment rates are at their lowest level since 2000, while the economy is by all accounts running strong. But although these conditions might normally seem ideal for the real estate market, sales remain stagnant, with existing-home sales actually down by 1 percent year over year. One of the main problems is low inventory, which means …


Construction of more new homes could ease inventory crunch

A stronger economy, wage growth and an improving job market are expected to march home sales. Prices are higher in 2018, but low supply and weakening affordability will tamper the rate of increases. Despite headwinds a moderate and multiyear increase in home sales is likely ahead. After accelerating 3.8 percent in 2016, existing-home sales rose …


How to Find the Perfect Land Lot, Get a Construction Loan and Build Your Dream Home

Would you love to have your own custom-built dream house? A construction loan can make that dream come true. This type of financing can be a little confusing. So, put on your overalls — we’re going to help you build a good foundation of knowledge about construction loans. Construction loans typically have higher interest rates …


More first-time home buyers are choosing new construction

first-time home buyers

Rising home prices, low inventory that can make it impossible to find anything to purchase and the prospect of losing bidding wars make this a frustrating time to look for a house, especially for  first-time home buyers. Growing numbers of people looking for their first house are coming up with a new strategy. Instead of …