Are you considering buying a new home and wondering why the selection is dwindling? Have you noticed that there are very few new home communities currently under construction? In order to compete in the current market, builders have been forced to reduce the price of new homes so much that they barely cover the cost of materials and labor. Because of this, new home construction has virtually come to a halt and builders are focusing their efforts on liquidating their current inventory.

Now is a great time for qualified buyers to take advantage of the tremendous opportunities that exist. You can now purchase a new home for the same price as a “used” resale home (as long as inventories last). Don’t hesitate because once inventories are sold out, it will take time before construction will begin again on any new home communities and prices will likely be higher. Until builders can make a profit by selling homes for more than they cost to build, new home communities will remain on hold. It could take years for new home construction to get back on track.

The availability of long term financing at historically low levels coupled with builder “close out specials” means great opportunities for buyers in today’s real estate market. Don’t miss the opportunity to benefit from our current real estate marketplace.

Get pre-qualified with a respected and knowledgeable lender, find yourself a real estate agent who understands the market and… happy hunting! The fruits of your labor could be the home of your dreams.

Posted by:John Duran