Reports and economic figures guesstimate that 2013 would be a great year for builders. It is March 6, 2013 and neighborhoods in Chesterfield, Va that permitted 21 homes last year have already permitted for 16 this year! That is an increase from 2 to be built sales a month to almost 2 a week! That is amazing.
Many factors are contributing to this boom in New Construction Housing. A desire to take advantage of extremely low interest rates while buyers can, (they increased a quarter of a point last week), Taking advantage of builder incentives while they are still around. and also keeping in mind with Sales like this contractors, builders and materials prices will surely rise.
This is good news for the overall housing market and the builder who has been able to survive the last 4 years may thrive in this year and upcoming years.
If you own a home and are considering selling this is also good news for you. There is a lack of re sale home inventory and the new construction rise will also raise prices of existing homes. The Richmond Virginia Housing Market is overall up in price and sales. Should selling and/or buying be on your mind I would love to help.
Thank you to Freshome for the pictures and staying current with HomeTrends :)