Consider A New Home Build

Dated: February 4 2015

Views: 401

Home builders are ramping up their inventory! In fact, at the end of December there were 218,000 homes listed for sale that were undergoing construction or were completed. According to Commerce Department data that is up by 17.2% from last year. Builders are becoming more optimistic that spring sales will exceed last years results. If these home builders hunches are correct this will in fact increase sales providing the momentum needed for the housing market. The pace of new- home sales in December was the highest since June of 2008. But there is always room for growth! Last years total new home sales were 435,000. Indeed, while the 218,000 spec homes on hand marked the highest December total since 2009. However, the spec home tallies of recent years are at low levels last seen in the late 1960's. The new home market in December had a supply of 5.5 months. D.R. Horton, the largest U.S. builder by closings, reported that it ended 2014 with 4,500 completed spec homes. This would be 1,100 more than at the same time a year earlier. D.R Horton also claimed to experience a 35% gain in sales contracts for its fiscal first quarter which ended Dec. 31. Builders tend to keep a set number of spec homes for each of the communities they are building. As builders begin to take on other communities their spec count continues to grow!  Many builders offer incentives and can assist in closing costs. Please get with me to get a complete list of local builders in your area! 

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Terry Ivie

Texas Real Estate Consumer Protection Notice

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