New Home Building Boom Is Good For Buyers

With the number of available homes for sale lower than normal in many markets, there’s been an understandable focus on how many new homes are being built. After all, the quickest way to fix a supply issue is to add more supply. That’s why new numbers from the U.S. Census Bureau and the Department of Housing and Urban Development are encouraging. Because, though they show a month-over-month decline in the number of new homes that began construction in January, year-over-year estimates are up 21.4 percent. Additionally, the number of building permits surged to a near 13-year high. And, since building permits are a good indicator of future housing starts, that’s a good sign that the construction boom will continue over the coming months and into the spring sales season. So what does this mean for home buyers? Well, as more new homes are built, markets will see a better balance between the number of interested buyers and the number of available homes. This will help slow price increases and give home buyers more options when they head out to find a home to buy – whether they’re looking to buy a new house or an existing one. (source)

About the Author
Bobby is a U. S. Marine Corps Veteran and Florida native with over 15 years of combined, award-winning experience in Real Estate and Mortgage Lending in Central Florida. Formerly served as a REALTOR with RE/MAX Properties SW, where he earned induction as a RE/MAX Hall of Fame Member and a consistent Platinum Club Award Winner. Locally, a multi-year Gold Level Award Top Producer within the Orlando Regional Realtors Association (ORRA). His consistent productivity has earned him universal recognition, named as a Top agent in numerous publications, year after year.