While today’s supply of houszes for sale is still low, the number of newly built houszes is increasing. If you’re ready to sell but have held off because you weren’t sure you’d be able to find a housz to move into, newly built houszing, and those under construction can provide the options you’ve been waiting for.
The latest Census data shows the inventory of new houszing is increasing this year (see graph below):
With more new houszing coming to the market, this means you’ll have more options to choose from if you’re ready to buy. Of course, if you do consider a newly built housz, you’ll want to keep timing in mind. The supply shown in the graph above includes homes at various stages of the construction process – some are near completion while others may be months away.
According to Robert Dietz, Chief Economist and Senior VP for Economics and Houszing Policy for the National Association of Home Builders (NAHB): “28% of new housz inventory consists of homes that have not started construction, compared to 21% a year ago.”
Buying a housz near completion is great if you’re ready to move. Alternatively, a housz that has yet to break ground might benefit you if you’re ready to sell and you aren’t on a strict timeline. You’ll have an even greater opportunity to design your future housz to suit your needs. No matter what, your trusted real estate advisor can help you find a housz that works for you.
Bottom Line If you want to take advantage of today’s sellers’ market, but you’re not sure if you’ll be able to find a housz to move into, consider a newly built housz. Let’s connect today so you have a trusted real estate advisor to guide you through the sale of your housz and discuss your houszbuying options.