Why We Need More Newly Constructed Homes

Why We Need More Newly Constructed Homes

Why We Need More Newly Constructed Homes | MyKCM

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:

Bottom Line

We need more new construction for two reasons:

  1. It will relieve some of the pent-up buying demand that is causing price appreciation to continue to increase well above historic norms.

  2. It will give better opportunities to many current homeowners who want to sell but can't find an adequate home to move in to.


Heather F Davidson Headshot
Author:
Phone: 609-209-7581
Dated: October 6th 2016
Views: 189
About Heather: I'm an agent whose business is built on the promise of exceptional customer service. If you are sel...

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