New Homes are making a slow but sure comeback. The problem is that many builders cannot build them fast enough! Labor shortages are one of the most significant inhibitors.
At the peak of 2006, we were building over 60,000 new homes per year. Then the numbers dropped to 5,000 during the recession. Today, we are on pace to build around 18,000 new homes in 2014 and we expect to get to the 20,000 unit run rate by 2015.
New home prices are rising with strong demand and limited inventory. Presales are once again becoming the majority of sales. In this environment, you want to make sure you are protected with strong representation to help set up the right expectations and agreements with the builder. Contact us to learn more about best practices for buying new homes.