The number of new home sales is far off historic norms. The National Association of Realtors (NAR) just reported that the percentage of all house sales that were newly constructed homes has fallen to the lowest numbers in forty years. Here is a graph showing the percentages:
This should come as no surprise as the number of new housing starts has fallen dramatically over the last several years:
We need more new construction for two reasons:
- It will relieve some of the pent-up buying demand that is causing price appreciation to continue to increase well above historic norms.
- It will give better opportunities to many current homeowners who want to sell but can’t find an adequate home to move in to.
Did you know I can even help you with new construction? I will help you work out the best deal, show you what you should and shouldn’t upgrade for home value, and also be there at signing to make sure it’s all correct. Give me a call 480-365-8346 and I will find you the best new construction in the neighborhood you’re looking at.